Staked Injective ETF Filed by Canary Capital: Can INJ Reach $16?

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.