Cboe BZX Files for Injective-based ETF Alongside Solana Fund Proposal

The Cboe BZX Exchange has submitted a filing with the U.S. Securities and Exchange Commission (SEC) seeking approval for a new exchange-traded fund (ETF) that would track Injective’s native token (INJ).

The proposed product, named the Canary Staked INJ ETF, is sponsored by Canary Capital Group LLC, which initially introduced the concept earlier this month.

The filing marks a continued push toward expanding crypto ETF offerings in the U.S. market, particularly beyond Bitcoin and Ethereum. The INJ-based fund would give investors direct exposure to the Injective ecosystem through a regulated investment vehicle, should it receive SEC approval.

On the same day, Cboe BZX also filed a registration for the Invesco Galaxy Solana ETF, reinforcing the trend of major asset managers pursuing spot ETFs for alternative Layer 1 blockchain tokens. Interest in a spot Solana ETF has grown steadily following similar proposals from firms like VanEck and 21Shares.

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Both ETF proposals were submitted using the SEC’s standard two-step process, which includes an initial 19b-4 filing by the exchange followed by a corresponding S-1 or trust registration by the sponsor. These filings are the formal beginning of the regulatory review cycle.

The simultaneous filings for both INJ and SOL ETFs reflect a broader shift in the crypto investment landscape, as asset managers race to bring new blockchain-native assets into the traditional financial system through compliant, exchange-traded structures.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.