Staked Injective ETF Filed by Canary Capital: Can INJ Reach $16?
Main Idea
Canary Capital has filed for the first US ETF offering exposure to Injective Protocol's native token INJ, which includes staking rewards, sparking a 14% price surge and increased market activity for INJ.
Key Points
1. Canary Capital filed an S-1 registration with the SEC for the Canary Staked INJ ETF, the first US ETF to offer exposure to INJ with staking rewards.
2. INJ's price surged 14% following the announcement, currently trading around $14, with DEX volumes tripling and TVL reaching $109 million.
3. The ETF represents a convergence of traditional finance (TradFi) and decentralized finance (DeFi), offering price exposure and staking yield in a regulated format.
4. Canary Capital has similar ETF filings underway for other assets like Solana, XRP, Hedera, SUI, and Tron.
5. Injective's on-chain usage has grown significantly, with a 1500% increase since January and the introduction of the Injective Council involving major players like Google Cloud and Deutsche Telekom.
Description
The fund would hold Injective Protocol’s native token, INJ, and stake a portion of it via approved validator providers Injective’s price surged up to 14% following the news, currently hovering around $14 Canary Capital has similar filings underway for assets such as Solana, XRP, Hedera, SUI, and Tron Canary Capital, a Delaware-based asset manager, has filed an S‑1 registration with the US SEC for the Canary Staked INJ ETF . This marks the first-ever US ETF that offers exposure to INJ, Injective ...
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