- The Cboe exchange has filed with the SEC for a spot “Canary Staked INJ ETF” from the firm Canary Capital
- This is one of the first serious attempts to bring a yield-bearing, staking-enabled altcoin ETF to the US market
- The news comes as the INJ price chart shows a bullish setup, with analysts eyeing a major potential breakout
The Cboe BZX Exchange has filed for a spot exchange-traded fund (ETF) tied to the native token of Injective Protocol (INJ).
The filing, submitted on behalf of Canary Capital Group LLC, proposes the “Canary Staked INJ ETF,” marking one of the first serious attempts to bring a staking-enabled INJ fund to the U.S. equities market.
Favorable Conditions for an INJ ETF
This move arrives amid a surge in ETF interest under a more favorable regulatory regime led by President Donald Trump. With the SEC having already greenlit spot Bitcoin and Ethereum ETFs during the Biden era, the trend has extended to assets like Solana, XRP, and now Injective.
Notably, the SEC’s Division of Corporation Finance clarified in May that certain staking models may not be considered securities offerings, potentially opening the door to staking-based ETFs like Canary’s.
Related: Altcoin Market Flashes ‘Golden Cross’ in Bullish Sign for Ether Alternatives
Cboe’s application for the Injective ETF came alongside a filing for the Invesco Galaxy Solana ETF, signaling a broader push by major firms to capture first-mover advantage in the altcoin ETF space. While staking components could introduce added complexity, they also offer the potential for higher yield and greater institutional appeal.
INJ Price Analysis: Primed for a Breakout
On the daily chart, Injective (INJ) is showing signs of a potential breakout after consolidating in a bullish structure. Currently trading at $14.83, the altcoin has a support at $12.75 while the nearest resistance is at the upper Bollinger Band ($15.97).
Related: Altcoins To Have ‘Severe Corrections?’ Analyst Issues Warning
The price has rebounded from the lower Bollinger Band and is attempting to reclaim the 20-day moving average. A decisive move above $15.97 could open the gates to 1.618 Fib Extension ($21.68), 2.618 Fib Extension ($27.19), and 4.236 Fib Extension ($36.12).
On the other hand, the Relative Strength Index (RSI) is currently at 60.36, suggesting bullish momentum without being overbought. The MACD is in a mild bullish crossover, while the Balance of Power at 0.87 hints at strong buying interest.If ETF approval goes through, the resulting institutional interest could serve as a major catalyst for INJ, with the $18.27–$21.68 zone acting as the next battleground for bulls.
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