The capped side of
$INJ is interesting.
Ten days after its launch, the futures trading of
$INJ has been available on the CFTC-regulated exchange and clearing house owned by Kraken's parent company, Payward, as of April 15.
This makes INJ the first time that it has been trading for over six months on a futures exchange regulated by the United States.
What does this mean?
One of the conditions the SEC have in their generic listing standards for certain commodity based exchange traded products requires that six months of futures trading be completed on a designated contract market prior to the expected Canary Staked INJ ETF ($INJC).
The futures market is a place to trade contracts on an underlying asset, while the plan is to launch an ETF. Institutions can enter into trade of INJ futures that are crypto settled with crypto or USD margin.
INJC, on the other hand, aims to provide investors with exposure to INJ through a U.S.-listed ETF in which they hold and stake INJ, with staking rewards included in the fund's NAV, pending the fund's final structure and approvals.
One of them offers a regulated platform for trading INJ futures. The other might provide a familiar brokerage path to get invested in INJ.
This is another significant update for the wider financial infrastructure that is evolving around
@Injective .
The regulated rails are growing, the onchain ecosystem continues to grow. 🥷
#crypto #injective #Web3 #blockchain #FutureTarding