Bitnomial launches Injective futures in the US, which is expected to support eligibility for spot ETFs

Comparative news, according to Cointelegraph, Chicago crypto derivatives exchange Bitnomial launched an Injective monthly futures contract. This is the first time that Injective tokens have entered the regulated derivatives market in the US. The contract is settled in INJ and expires every month, allowing traders to gain price exposure without holding the underlying assets, and can liquidate all cryptocurrencies or US dollars as security deposit through Bitnomial.

Institutional clients can trade the futures immediately, and retail trading is expected to open in the coming weeks via Bitnomial's Botanical platform. Bitnomial also plans to increase INJ perpetual futures and options.

According to the analysis, the launch of the Injective futures contract will begin a six-month trading record, which is expected to support applications for spot ETFs. Previously, Canary Capital had filed a pledged INJ ETF application with the SEC.