Canary files application for Injective ETF fund with staking

Canary Capital has submitted an application to the U.S. Securities and Exchange Commission (SEC) on Thursday to launch the Injective ETF fund with staking (Staked INJ ETF). This move reflects the efforts of issuers to meet the increasing demand for investment products focused on altcoins.

The potential of Staked INJ ETF

If approved, this fund will allow investors to track the price of the native token INJ of the layer-1 blockchain Injective, in addition to staking this altcoin. Staking is the process where cryptocurrency holders 'lock' their assets to secure the network in exchange for rewards in the form of additional tokens.

A representative of #injective stated: 'As interest in staking-based products accelerates, this ETF aims to lower technical barriers and provide a compliant, secure entry point for more participants.' This is one of the requirements from issuers and exchanges wanting to offer cryptocurrency ETF funds with staking features for U.S. investors, indicating the growing trend of integrating staking into cryptocurrency-based funds. #CanaryCapital