Growing Interest in Staking-Backed ETFs

The New York-based investment firm continues to push forward in the crypto ETF space, this time highlighting the rising demand for products centered around staking. According to the proposal, the fund will hold INJ tokens directly in its portfolio and allocate a portion of them to staking. However, specific details—such as the percentage of tokens that will be staked or the staking provider to be used—remain undisclosed at this stage.

This development aligns with a broader trend in which asset managers seek to combine the utility of decentralized networks with traditional financial structures. If approved, this would mark one of the first ETFs to offer direct staking exposure to a major altcoin, positioning it as an attractive option for both crypto-native and institutional investors seeking yield-based strategies.

Why Injective?

Injective is a purpose-built Layer-1 blockchain tailored for decentralized finance (DeFi) and financial application development. Its native token, INJ, serves a wide array of functions within the network, from governance to protocol-level utility. With a market capitalization of around $1.3 billion, INJ currently ranks among the top 100 digital assets globally, according to CoinGecko.

Injective’s growing ecosystem and developer adoption have turned it into a significant player in the smart contract space—particularly for applications involving derivatives, orderbooks, and high-speed financial protocols.

SEC Review Underway

The SEC has begun its standard review process, and a decision on whether the ETF will be approved is expected in the coming months. The outcome is being closely watched, as it could serve as a regulatory benchmark for staking-based investment vehicles in the United States.

A green light from regulators would not only validate Canary Capital’s strategy but also provide broader access to crypto yields through conventional brokerage accounts. The potential product could stand alongside Bitcoin and Ethereum ETFs, yet distinguish itself by offering access to staking rewards—a major value proposition for long-term investors seeking both growth and income.

Injective (INJ) Price Chart

Injective (INJ) is currently trading at $13.88, reflecting a 2.17% increase over the past 24 hours. This price movement is seen as both a reflection of the broader market recovery and a sign of growing investor interest following the recent ETF application.

The renewed demand for Layer-1 projects like Injective appears to be contributing to the upward momentum in INJ’s price.

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The post Canary Capital Files for a Staking-Focused Altcoin ETF Built on Injective appeared first on Coin Engineer.

SEC Expedites Ethereum ETF Process

The approval process for spot Ethereum ETH ETFs is moving swiftly. After the SEC approved the 19b-4 forms on May 23, the only remaining obstacle was the effectiveness of the S-1 forms. These forms were not prepared in advance due to a last-minute change of direction by the SEC. However, progress is now being made.

Sources following the situation stated that the SEC has asked issuers to submit draft S-1 filings by Friday. The SEC will then provide the first round of comments, prompting further revisions.

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VanEck, wasting no time, submitted its updated S-1 form the day the ETFs were approved. BlackRock followed suit on May 30, announcing that its ETF would have an initial investment of $10 million. They noted that the details of seed investments were straightforward and that addressing other aspects of the S-1 forms could take longer.

Approval Process and Expectations

Analysts expect the S-1 forms to go through at least two more rounds of draft filing before they are finalized. If this process is slow, it could take several weeks or even months for the S-1 forms to be finalized. Some traders believe this delay could be positive for the market.

By following these steps in the Ethereum ETF process, the SEC is focusing market attention on the S-1 forms. Issuers are moving quickly and adapting to the SEC’s comments, paving the way for a potential near-term launch of spot Ethereum ETFs.

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