Canary Submits Filing for Staked Injective ETF as Interest in Altcoin Funds Grows

Canary, a digital asset startup, has filed an application for an exchange-traded fund (ETF) that tracks the performance of staked Injective (INJ). The announcement comes as interest in altcoin-focused ETFs is on the rise, signaling a shift in investor attention beyond major cryptocurrencies like Bitcoin and Ethereum. According to the filing, the Canary Injective Staking ETF would invest in Injective tokens and participate in the network’s proof-of-stake mechanism, earning rewards and distributing them to investors. The fund would be listed on the Cboe BZX Exchange if approved by the U.S. Securities and Exchange Commission (SEC). The launch of a staked Injective ETF could provide investors with a regulated and accessible way to participate in the growth of the Injective ecosystem while earning passive income through staking rewards. However, it’s important to note that cryptocurrency ETFs are still subject to regulatory scrutiny, and there is no guarantee that this application will be approved.