Cboe Files for Staked Injective ETF, Expanding US Crypto Investment Products
The Chicago Board Options Exchange (Cboe) is expanding its lineup of regulated cryptocurrency investment products by filing for a staked Injective ETF. The exchange submitted a Registration Statement on Form 19b-4, following an earlier filing by asset manager Canary Capital for the proposed fund.
The staked Injective ETF, proposed by Canary Capital and seeking listing on Cboe, aims to generate staking rewards for investors by providing validation services via an “approved staking platform.” Approval, pending SEC review, would mark another milestone in the availability of staked cryptocurrency ETFs in the US.
Paving the Path Following SEC Guidance
President Trump’s administration has adopted a supportive stance towards crypto-based investment vehicles, influencing the current regulatory environment. Cboe’s filing comes just weeks after the SEC provided crucial guidance in May, officially recognizing staking activities as distinct from securities violations.
“The SEC has now recognized what we’ve long argued: Staking is a core part of how modern blockchains operate, not an investment contract.”
If approved, this third staked altcoin ETF would join the staked Solana (SOL) and staked Ether (ETH) products that recently received clearance.
SEC Review Process and Potential Impact
While the SEC has not yet acknowledged the pending ETF filings, the typical timeline allows for an initial review response within 30–45 days, potentially as soon as early September. However, the complete process could extend up to the final decision point, possibly late 2025 or early 2026.
Canary Capital’s proposed offering could provide investors with exposure to the Injective protocol’s (INJ) governance token, potentially boosting its liquidity and price.
INJ has seen its price drop significantly in recent months—reportedly down more than 71% from its previous peak of $52.
Broader Context and Market Outlook
Recent spot BTC and ETH ETF approvals established a precedent for institutional crypto investment. Comparing the market reactions, the approval of spot Bitcoin ETFs correlated strongly with price increases, whereas the ETH spot ETF saw a more muted and initially negative response.
The market continues to evolve as new, regulated ways to interact with the crypto ecosystem—like the staked ETFs—become available to traditional finance participants in the United States.
