Cboe BZX has submitted a filing for a new exchange-traded fund focused on the staked token Injective (INJ). This move is expected to draw traditional investors into the cryptocurrency realm.
Launch of the Injective ETF
The ETF request from Cboe follows the submission of Form S-1 by Canary Capital Group to the SEC. If approved, it will become the first in the U.S. associated with a staked Layer-1 token. The ETF will allow traditional investors to earn from Injective’s staking without the need to set up wallets or select validators.
Progress on EVM Integration
Injective announced an upcoming upgrade, Ethernia, which includes the first EVM-compatible beta mainnet. This will allow Ethereum-based smart contracts to run on its network, potentially increasing developer flexibility and activity on the platform.
Market Technical Situation
Technical analyst Ali Martinez reported that Injective has broken above $15, suggesting potential growth to levels of $18.95, $21.23, and $25.01 based on Fibonacci extension levels. Currently, the INJ price is around $15.20, with a trading volume of $222.6 million over the past 24 hours.
The investor-friendly Injective ETF and advancements in EVM integration showcase the token's market potential. Current technical indicators suggest possible gains ahead.
