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Cboe Seeks Approval for First Staking-Enabled Injective (INJ) ETF

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by Giorgi Kostiuk

13 hours ago

Cboe BZX Exchange has filed for the first staking-enabled ETF connected to Injective (INJ) in the United States. This initiative aims to attract investors seeking yield from altcoins.

Cboe's Financial Initiative

Cboe BZX Exchange has launched the Canary Staked INJ ETF through Canary Capital Group LLC. This ETF aims to offer investors staking rewards at the fund level without managing personal wallets.

Staking Potential for ETFs

The inclusion of staking in the ETF distinguishes this product from most previous crypto funds. SEC clarifications regarding staking models allow for more confident exploration of staking products. This could significantly attract institutional investors.

Market Outlook for Injective

Currently, INJ is trading at $14.83, supported by levels at $12.75. Technical indicators show bullish signals, suggesting a potential rise to $21.68 upon breaking through resistance.

The introduction of the ETF linked to Injective (INJ) may represent a significant step for altcoins, creating new investment opportunities and branding them in traditional financial sectors.

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