The Chicago Board Options Exchange (Cboe) has officially submitted a 19b‑4 filing to the Securities and Exchange Commission (SEC) to list an ETF that tracks staked Injective (INJ) tokens. The fund will be developed by Canary Capital and would be the third U.S. staked crypto ETF after Solana (SOL) and Ethereum (ETH) staking funds.
The proposed fund is designed to earn staking rewards by delegating holdings to a vetted staking platform. Investors would thus benefit not just from the token’s price movements but also from passive yield, without requiring them to manage nodes or blockchain infrastructure themselves.
ETF approval timeline
The SEC has yet to formally acknowledge the ETF registration. Once acknowledged, the review clock usually starts with a 30–45 day initial response period, possibly by early September. However, the full review could stretch up to 240 days, potentially delaying approval until March 2026. The filing aligns with the SEC’s May 2025 ruling that staking rewards don’t constitute securities, providing much-needed legal clarity.
Injective’s native token (INJ) is trading around $15.10, down over 71% from its March 2024 high of $52. Analysts believe ETF approval could enhance liquidity, visibility, and investor inflows, similar to the boost seen for Bitcoin following spot ETF launches. Canary Capital’s Staked INJ ETF may catalyze institutional access to staking-enabled crypto assets.