Canary has initiated the regulatory process for launching an exchange-traded fund (ETF) based on the Injective Protocol (INJ) token by filing a registration statement on Form S-1 with the U.S. Securities and Exchange Commission.
The submission of the S-1 form represents a significant preliminary step towards potentially offering U.S. investors a regulated vehicle to gain exposure to the price movements of the INJ token without directly holding the underlying cryptocurrency.
This filing follows established procedures for bringing new financial products, particularly those based on digital assets, to market and highlights the continuing institutional interest in providing mainstream crypto investment options.