Cboe Files to List Invesco Galaxy Solana ETF Amid Growing Interest in Staking-Based Crypto Funds

• Cboe’s filings propose listing Solana and Injective staking ETFs on its BZX exchange platform.

• The Canary Staked INJ ETF aims to generate yield via an approved staking platform while tracking Injective’s token performance.

• The SEC’s May 2025 ruling on staking legality has paved the way for innovative staking-based ETFs in regulated markets.

Cboe files for Invesco Solana and Canary Staked INJ ETFs, leveraging SEC’s staking approval to expand regulated crypto staking investment options. Stay informed with COINOTAG.

Cboe Advances Crypto ETF Listings with Solana and Staked INJ

The Chicago Board Options Exchange (Cboe) has submitted 19b-4 filings to the SEC to list two new cryptocurrency ETFs: the Invesco Galaxy Solana ETF and the Canary Staked Injective (INJ) ETF. These filings mark a significant step in expanding regulated access to staking rewards within the U.S. market. Both ETFs are proposed to trade on Cboe’s BZX exchange, under Rule 14.11, which permits inclusion of staked digital assets.

What Makes the Canary Staked INJ ETF Unique?

The Canary Staked INJ ETF is designed to track the price of Injective’s native token while simultaneously generating yield through an approved staking mechanism. This product reflects growing investor demand for blockchain-native yield strategies within regulated investment vehicles. Canary Capital’s S-1 registration for this ETF was filed on July 25, 2025, and if approved, it will join Solana and Ethereum staking ETFs as one of the few regulated staking products in the U.S.

How Has the Regulatory Environment Enabled Staking ETFs?

The SEC’s May 2025 ruling clarified that cryptocurrency staking activities do not violate securities laws, removing previous legal uncertainties for staking-based investment products. This regulatory clarity has encouraged issuers like Cboe and Canary Capital to pursue staking ETFs confidently. Alison Mangiero, head of staking policy at the Crypto Council for Innovation, described the ruling as a pivotal moment that supports innovation in regulated crypto markets.

What Is the Expected SEC Review Timeline?

The SEC is anticipated to provide initial feedback on the 19b-4 filings by early September 2025. However, the full review process can extend up to 240 days, potentially delaying final approval until March 2026. Market participants are closely monitoring the Injective token (INJ), currently trading at $15.10, which is approximately 71% below its 2024 peak of $52. Analysts expect that ETF approval could enhance liquidity and institutional interest, similar to previous staking ETF launches.

What Is the Impact of These ETF Listings on Crypto Investors?

These ETF listings provide regulated access to staking rewards, allowing investors to earn yield on Solana and Injective tokens without managing staking directly. This development simplifies exposure to blockchain-native yield strategies while maintaining compliance with U.S. securities regulations. The ETFs also enhance market liquidity and institutional participation in the crypto staking sector.

How Do Staking ETFs Differ from Traditional Crypto ETFs?

Unlike traditional crypto ETFs that track only token price movements, staking ETFs incorporate yield generation through approved staking mechanisms. This dual exposure offers investors both price appreciation and passive income, aligning with growing demand for diversified crypto investment products. The SEC’s recent regulatory clarity has been crucial in enabling these innovative structures.

Frequently Asked Questions

What is the significance of Cboe’s 19b-4 filings for crypto ETFs?

Cboe’s filings propose listing innovative staking ETFs for Solana and Injective, expanding regulated investment options that combine price exposure with staking rewards.

Why is the SEC’s stance on staking important for investors?

The SEC’s confirmation that staking is not a securities violation removes legal uncertainty, encouraging more regulated staking products and protecting investors.

Key Takeaways

• Cboe’s filings mark a major step in regulated crypto staking ETFs: Introducing Solana and Injective staking products to the U.S. market.
• SEC’s May 2025 ruling enables staking-based ETFs: Legal clarity fosters innovation and investor confidence.
• ETF approval could boost liquidity and institutional interest: Injective’s token price and market activity may benefit significantly.

Conclusion

The Cboe filings for Invesco Solana and Canary Staked INJ ETFs represent a pivotal advancement in regulated crypto investment products, leveraging the SEC’s supportive stance on staking. These ETFs offer investors streamlined access to staking rewards and price exposure, signaling growing institutional acceptance of blockchain-native yield strategies. Market participants should watch the SEC review process closely as it may shape the future of crypto ETFs in the U.S.