The US SEC has requested 21 days of public comment on the proposed Canary Staked INJ ETF, marking a major step forward for the new Staking product.
The US Securities and Exchange Commission ( SEC ) has officially opened the public comment period on Canary's Injective staked exchange-traded fund proposal, a positive signal for the emerging Staking ETF trend in an increasingly open legal context.
According to a filing Monday, the SEC is asking interested parties to submit comments on the Canary Staked INJ ETF within 21 days. The regulator has up to 90 days to make a final decision on whether to approve the product.
Canary filed a proposal for a staked INJ fund last month that aims to track the native assets of the Injective blockchain. If approved, the ETF would be listed and traded on the Cboe BZX Exchange, opening up new investment opportunities for institutional and retail investors.
In the August 11 filing , the exchange made a strong argument that INJ market Capital of more than $1.4 billion reduces “the possibility of manipulation.” INJ ’s continuous trading and geographically dispersed nature are said to make price manipulation difficult and costly.
“The INJ market is even less susceptible to manipulation than the stock, bond and commodity Futures Contract markets,” the exchange representative asserted.
ETF Staking – an emerging trend in a favorable environment
The public comment period comes as the second Trump administration seeks to create a more crypto-friendly regulatory environment. Companies have been scrambling to file for a range of crypto-asset ETFs, from Dogecoin to Solana, with Staking ETFs emerging as a potential new Shard of the puzzle.
Last week, VanEck filed a proposal for the JitoSOL ETF to track the price of a liquidation Staking Token . The Jito Foundation claims it will be “the first Solana spot ETF backed 100% by the Jito network’s LST: JitoSOL.”
REX-Osprey’s Solana Staking ETF also integrated Staking rewards through a partnership with JitoSOL in a July announcement, indicating the increasingly fierce competition in this segment.
The SEC has taken a clearer stance on Staking in recent months. In May, the agency said that most proof-of Stake features were not subject to regulatory authority, then clarified that some Liquid Staking activities do not constitute securities.
Also on Monday, the SEC delayed its decision on the WisdomTree XRP Fund until October 24, a move that is considered routine. The SEC’s delay does not affect the XEM of other ETFs, including Canary’s staked Injective proposal.
