- Cboe has submitted a 19b-4 filing to list two crypto ETFs.
- The ETFs include Invesco Galaxy Solana and Canary Staked INJ.
- SEC approval could bring Solana and Injective closer to mainstream investors.
In a major move toward expanding crypto investment options in the U.S., the Chicago Board Options Exchange (Cboe) has submitted a 19b-4 filing with the U.S. Securities and Exchange Commission (SEC). The application aims to list and trade two new exchange-traded funds: the Invesco Galaxy Solana ETF and the Canary Staked INJ ETF.
The 19b-4 form is a regulatory step that allows exchanges to propose new financial products. Approval of these ETFs would mark another significant milestone in integrating digital assets with traditional markets.
Spotlight on the Invesco Galaxy Solana ETF
The Invesco Galaxy Solana ETF aims to offer institutional and retail investors exposure to Solana (SOL), one of the leading smart contract platforms. This ETF would be backed by SOL holdings, making it a physically backed crypto ETF rather than a futures-based one. It reflects growing demand for Solana among investors looking for alternatives to Ethereum.
If approved, this product could attract mainstream capital and legitimize Solana as a core crypto asset alongside Bitcoin and Ethereum, which already have several ETF proposals in the pipeline or approved.
Canary Staked INJ ETF: An Innovation in Staking Exposure
Alongside the Solana fund, Cboe has also filed to list the Canary Staked INJ ETF, which focuses on Injective (INJ), a decentralized finance (DeFi) protocol optimized for derivatives trading. What sets this ETF apart is that it offers exposure to staked INJ tokens, giving investors potential yield benefits through staking rewards—an innovative concept in the ETF space.
This move aligns with the growing trend of token staking, which allows holders to earn passive income while supporting network security.
What’s Next?
The SEC will now review the filings and decide whether to approve or reject them. While the regulatory environment remains cautious, increasing institutional interest and market pressure may accelerate approvals.
These ETFs, if launched, could open new doors for investors seeking regulated access to the fast-growing world of decentralized assets.
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