21Shares Unveils Injective Staking Exchange-Traded Product (ETP) – AINJ

21Shares has unveiled its latest crypto product, the Injective Staking Exchange-Traded Product (ETP) - AINJ. This product aims to enable investors to engage

21Shares has launched its Injective Staking Exchange-Traded Product (ETP) (AINJ), enabling investors to enter the crypto market through traditional financial channels.

Investors will also be able to benefit from Injective staking rewards.

Is an Injective Exchange-Traded Fund (ETF) on the way?

The ETP (AINJ) allows investors to purchase the Injective token (INJ) through traditional exchanges and brokerages. These include Interactive Brokers, Saxo Bank, Swissquote, and eToro, easing the complexities typically associated with crypto investments. The ETP is available for trading on Euronext Amsterdam (AINJ NA) and Euronext Paris (AINJ FP) exchanges.

“The introduction of AINJ is a major step for institutional adoption, opening new channels for large-scale entities to engage with INJ,” Injective announced.

21Shares, which manages over $3 billion in assets and is also behind the Bitcoin ETF proposal with Cathie Wood’s Ark Invest, is introducing AINJ through its framework for creating transparent, regulated investment vehicles.

The ETP is physically backed, meaning it directly holds INJ tokens in cold storage. This setup provides investors with direct exposure to INJ’s performance without direct ownership or the associated security risks. The ETP also captures staking yields from the INJ staking process, which secures the Injective network, and reinvests them, potentially boosting investor returns.

The ETP sector is expanding as more investors seek exposure to diversified assets through instruments that combine the liquidity and ease of trading of stocks with the benefits of mutual funds. AINJ fits neatly into this category, offering a regulated way to invest in digital assets and joining a select group of crypto assets to have ETPs.

While the new ETP is expected to attract major institutional interest, the market reaction has been muted. INJ’s price rose only 2.7% in the last 24 hours, currently trading at $26.51.

21Shares also filed for a Solana ETF with the US Securities and Exchange Commission (SEC), leading some to speculate that the more institution-friendly products, like ETPs, will pave the way for an Injective ETF.

“Ok, this is huge. INJ is on the right way. ETF soon,” an X user speculated.

However, it is important to note that 21Shares has introduced ETPs for over 40 altcoins, so an ETF may not be the immediate next step.

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