The move follows SEC guidance treating staking rewards as income, enabling asset managers like Canary to back blockchain-based tokens through delegated staking.
Investment company Canary Capital filed an S-1 application for a staked INJ (INJ) exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC) on Thursday.
INJ is the governance, staking and utility token for the Injective Protocol, a layer-1 blockchain network focused on decentralized finance (DeFi) operations.
One of the main objectives of the fund is to accrue staking rewards through providing validation services using an “approved staking platform,” the filing reads.
