Solana News Today: Cboe Files Staked Injective ETF, Seeks Third U.S. Staking Fund Approval

The Chicago Board Options Exchange (Cboe) has submitted a regulatory filing to list Canary Capital’s staked Injective (INJ) ETF, a move that could solidify its position as the third staked cryptocurrency exchange-traded fund in the U.S. following the recent approvals of staked Solana (SOL) and Ether (ETH) ETFs [1]. The proposed ETF aims to provide investors with regulated exposure to Injective’s governance token while generating staking rewards through a vetted platform, offering a structured avenue for earning passive income on INJ holdings [1]. This filing underscores the growing acceptance of crypto staking products within the U.S. regulatory framework, particularly after the Securities and Exchange Commission (SEC) clarified in May 2025 that staking does not constitute a securities violation [1].

The Cboe’s Form 19b-4 filing with the SEC marks a critical step in the evolution of crypto investment vehicles. If approved, the staked Injective ETF would enable traditional investors to participate in the Injective protocol’s ecosystem, potentially boosting liquidity and visibility for INJ [1]. Historical performance of existing crypto ETFs suggests mixed outcomes: Bitcoin’s spot ETF drove significant price gains in early 2024, while Ethereum’s spot ETF saw a 38% price decline within two weeks of launch, partly due to outflows from Grayscale’s Ether Trust [1]. Analysts from COINOTAG note that the Injective ETF’s success could hinge on market sentiment and fund management strategies, as varying reactions to crypto ETFs highlight the sector’s volatility [1].

Regulatory clarity has emerged as a pivotal factor in the expansion of staked ETFs. The SEC’s May 2025 ruling, which affirmed staking as a core blockchain operation rather than an investment contract, was hailed as a “major step forward” by industry advocates [1]. This development has paved the way for additional staking-based products, though the approval process remains cautious. The SEC’s review period for the Injective ETF could extend up to 240 days, with a potential decision by March 2026 [1]. Once acknowledged, the agency typically sets a 30- to 45-day response window, but full evaluations often require extended scrutiny to balance innovation with investor protection [1].

Market implications of the staked Injective ETF remain uncertain. Injective’s token (INJ) has seen a significant price correction, trading at $15.10 in late 2025 compared to its $52 peak in March 2024 [1]. While increased accessibility via an ETF could stimulate demand, the token’s performance will ultimately depend on broader market conditions and investor confidence. The mixed outcomes of previous crypto ETFs underscore the need for caution. Bitcoin’s ETF inflows drove its price above $50,000 in 2024, whereas Ethereum’s spot ETF faced initial challenges, including outflows from competing funds like Grayscale’s Ether ETF [1]. These contrasting results highlight the role of market dynamics in shaping ETF success.

The proposed Injective ETF reflects a broader trend of institutional adoption in the crypto space. By offering a regulated vehicle for staking rewards, Cboe and Canary Capital are addressing a growing demand for passive income strategies in digital assets. However, the product’s approval will require navigating the SEC’s rigorous oversight, which prioritizes transparency and risk mitigation. Investors seeking exposure to INJ through the ETF will likely monitor regulatory developments closely, as well as the token’s on-chain activity and market sentiment.

Source: [1] Cboe Files to List Canary Capital’s Staked Injective ETF, Potentially Following Solana and Ether Models July 29, 2025 (https://en.coinotag.com/cboe-files-to-list-canary-capitals-staked-injective-etf-potentially-following-solana-and-ether-models/)