Injective Labs, in collaboration with 21Shares, has announced the launch of AINJ, an INJ-linked Injective Staking Exchange-Traded Product (ETP) that includes staking.
The fund will allow users to access INJ Token through major traditional financial exchanges and brokerages while also earning staking rewards.
The ETP will trade on Euronext Amsterdam (AINJ NA) and Euronext Paris (AINJ FP) and will be supported by 25 banks and brokerages, including Interactive Brokers, Saxo Bank, Swissquote and eToro.
According to Injective Labs:
“AINJ is more than just a new financial product. It is a strategic advancement that bridges the gap between traditional finance (TradFi) and decentralized markets. As a regulated financial service, AINJ paves the way for wider institutional participation and adoption of $INJ.”
The fund marks an important milestone in Injective's efforts to integrate with traditional financial markets and institutions.
According to data from CryptoSlate, INJ was trading at $26.23 at press time, down 2% over the past 24 hours.
Aingje
INJ is one of the few crypto tokens in the world that has an ETP associated with it, highlighting its importance and the innovation behind the product. ETPs such as AINJ offer an easy way to participate in a diversified portfolio, combining the ease of stock trading with the benefits of a mutual fund.
AINJ has assets under management (AUM) of $128.6 million and charges a fee of 2.5%. The product is designed to track Injective's performance and earn staking revenue for reinvestment in the ETP.
The token currently offers an estimated 19.38% staking reward, but this is subject to change as network and market conditions change.
The ETPs are physically backed by the INJ and held in cold storage by a custodian.Securities listed on the Euronext market are regulated under the single Euronext rule book, which harmonises all applicable regulations in the territories where Euronext operates.
21Shares is well known for working on major crypto projects and has been instrumental in promoting a spot Bitcoin ETF with Ark Invest. With over $3 billion in assets under management in crypto, the firm is perfectly positioned to support the launch and success of AINJ.
Cryptocurrency ETPs
Injective joins a select group of cryptocurrencies that are available to investors through traditional financial products. With a market capitalization of $2.4 billion, Injective stands to benefit from increased participation from institutional and retail investors.
The launch comes amid growing interest in ETPs linked to digital assets other than Bitcoin as the market prepares for the launch of an Ethereum ETF, with some firms already starting to apply for ETPs linked to Solana (SOL).
Meanwhile, some industry experts believe that a spot Ethereum ETF “opens the door” for funds linked to other digital assets, but that the lack of an established futures market for these tokens could hinder the approval process for these products.
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