Canary Capital has submitted a revised S-1 filing with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) based on INJ staking. The fund aims to be listed on the Cboe exchange and will offer investors the opportunity to earn additional returns not only from the spot price of the cryptocurrency Injective but also through its staking program. According to the filing, U.S. Bancorp Fund Services has been appointed as the transfer agent and cash custodian, while BitGo Trust Company has been selected as the fund’s custodian.
Injective is a blockchain protocol that provides unique solutions for decentralized finance (DeFi) and decentralized exchanges (DEX). Staking involves investors contributing their cryptocurrency to support network security and operations in exchange for rewards. The INJ staking ETF allows investors to benefit from these blockchain incentives without directly participating in the network.
Approval of this ETF could facilitate more regulated and accessible investment in crypto assets like Injective, potentially boosting acceptance of cryptocurrencies in traditional financial markets. However, the inherent volatility of the cryptocurrency market and regulatory concerns pose risks for such funds.
This development signals further integration of cryptocurrencies into the U.S. financial system, offering investors more diverse and secure avenues for digital asset investment. In the future, the approval of staking ETFs could play a significant role in the growth of the crypto market and in building investor confidence.
Source: binance
