- Cboe filed 19b-4 forms with the SEC to list Solana and Injective staking ETFs on its BZX exchange platform.
- The proposed Staked INJ ETF from Canary Capital aims to generate yield via an approved staking platform and track INJ performance.
- The SEC’s May ruling on staking legality has enabled a wave of staking-based ETFs, boosting innovation in regulated crypto markets.
The Chicago Board Options Exchange (Cboe) has filed a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) to list and trade two new cryptocurrency ETFs—the Invesco Galaxy Solana ETF and the Canary Staked Injective (INJ) ETF.
Cboe Pushes Forward with Dual Crypto ETF Listings
In a move first shared by Cointelegraph on X, Cboe’s latest 19b-4 filing seeks approval to list both the Invesco Galaxy Solana ETF and Canary Capital’s Staked INJ ETF on its BZX platform. The filings follow an S-1 registration submitted by Canary Capital on July 25 for the staked INJ product. If approved, this would mark the third staked crypto ETF in the U.S., joining Solana and Ethereum.
The staked INJ ETF is designed to track the price of Injective’s native token while earning rewards through an approved staking mechanism. This product reflects rising demand for blockchain-native yield strategies in regulated investment vehicles. Both ETF applications fall under Cboe BZX Rule 14.11, allowing the inclusion of staked digital assets.
Regulatory Landscape Clears the Path
The Cboe’s filings come amid a friendlier regulatory climate for staking-based ETFs. A May 2025 ruling by the SEC confirmed that staking activity does not breach securities laws. This development has opened the door for issuers to pursue staking ETFs without legal uncertainty.
Alison Mangiero, who leads staking policy at the Crypto Council for Innovation, noted the ruling as a pivotal development for the sector. While the Solana and Ethereum ETFs have already secured approval, Injective’s unique staking design could attract further examination from the SEC during the review process.
SEC Review Timeline Begins as Market Eyes INJ
The SEC is expected to issue initial feedback on the 19b-4 filings by early September. However, the full review period could stretch up to 240 days, potentially pushing the final decision into March 2026.
INJ trades at $15.10, about 71% below its 2024 high of $52. Analysts will watch closely if ETF approval leads to stronger liquidity and institutional interest, as seen with previous ETF launches.
