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Bitnomial launches Injective futures in US, with eyes on ETF eligibility
TL;DR
Bitnomial has launched monthly futures contracts for Injective, the first US-regulated derivatives product for the token. This move could support a spot ETF under SEC rules, with institutional access available now and retail trading expected soon.
Key points
- Bitnomial launches monthly futures contracts for Injective.
- First US-regulated derivatives product for Injective token.
- Contracts settle in INJ and can be margined in crypto or USD.
- Launch supports potential ETF eligibility under SEC rules.
- Institutional clients can access futures immediately.
Mentioned in this story
BitnomialSECCanary CapitalCboe BZX Exchange
Chicago-based crypto exchange Bitnomial has launched monthly futures contracts tied to Injective, marking the first US-regulated derivatives product for the Web3 financial ecosystem’s native token.
According to Wednesday’s announcement shared with Cointelegraph, the contracts settle in INJ (INJ) with monthly expiries, allowing traders to gain price exposure without holding the underlying asset, and can be margined in crypto or US dollars through Bitnomial’s clearinghouse.
The listing also starts a six-month track record that could support a spot exchange-traded fund under US Securities and Exchange Commission (SEC) listing rules. In July, Canary Capital filed for a staked INJ ETF, with Cboe BZX Exchange submitting a corresponding rule change to the SEC.
Institutional clients can access the futures immediately, with retail trading expected to follow via Bitnomial’s Botanical platform in the coming weeks. The company said it also plans to add perpetual futures and options tied to INJ.
Source: Injective
Injective runs on a Layer 1 blockchain built for financial applications, with an onchain order book and cross-chain connectivity to networks including Ethereum (ETH) and Solana (SOL).
Bitnomial is a derivatives exchange that operates a trading venue, clearinghouse and brokerage for crypto futures and options that is regulated by the Commodity Futures Trading Commission (CFTC). In January, the exchange launched monthly futures contracts tied to Aptos (APT) marking the first US-regulated derivatives product for the alt coin.
Q&A
What are the new futures contracts for Injective launched by Bitnomial?
Bitnomial has introduced monthly futures contracts for Injective, allowing traders to gain price exposure without holding the asset.
How could Bitnomial's futures contracts impact ETF eligibility for Injective?
The six-month track record from these futures contracts may support a spot ETF application under SEC listing rules.
When will retail trading for Injective futures be available on Bitnomial?
Retail trading for Injective futures is expected to be available soon via Bitnomial’s Botanical platform.
