Canary Capital continues its efforts to introduce the first collateralized ETF for the INJ token in the U.S., but official filings remain unverified.
Lack of Confirmation from Cboe and SEC
On July 17, 2023, Canary Capital submitted an S-1 filing for the proposed ETF that aims to provide exposure to Injective (INJ) with staking opportunities. However, no official confirmation from the SEC or Cboe has been received. The absence of public records raises concerns about market readiness and regulatory compliance.
Market Impact and Investor Activity
The uncertainty surrounding the filing has prevented market participants from initiating major reactions. Investors are weighing the implications of the lack of confirmation on short-term trading strategies. The delay in the Cboe application is discussed as potentially disrupting trading strategies linked to INJ.
Historical Context of Initiating Staking ETFs
Since June 2021, no ETF proposal involving staking underlying assets has been registered in the U.S. This highlights the unique challenges faced by the proposed ETF on INJ. The issue lies in the necessity of obtaining approval from regulators.
The future of the INJ ETF remains uncertain without official backing from Cboe and the SEC, creating additional risks for market participants.
