Bitnomial Launches US-Regulated Injective Futures with ETF Implications

Chicago-based crypto alternate Bitnomial has launched month-to-month futures contracts tied to Injective, marking the primary US-regulated derivatives product for the Web3 monetary ecosystem’s native token.

In keeping with Wednesday’s announcement shared with Cointelegraph, the contracts settle in INJ (INJ) with month-to-month expiries, permitting merchants to achieve worth publicity with out holding the underlying asset, and could be margined in crypto or US {dollars} via Bitnomial’s clearinghouse.

The itemizing additionally begins a six-month observe file that might help a spot exchange-traded fund beneath US Securities and Trade Fee (SEC) itemizing guidelines. In July, Canary Capital filed for a staked INJ ETF, with Cboe BZX Trade submitting a corresponding rule change to the SEC.

Institutional purchasers can entry the futures instantly, with retail buying and selling anticipated to comply with by way of Bitnomial’s Botanical platform within the coming weeks. The corporate stated it additionally plans so as to add perpetual futures and choices tied to INJ.

Injective runs on a Layer 1 blockchain constructed for monetary functions, with an onchain order e book and cross-chain connectivity to networks together with Ethereum (ETH) and Solana (SOL).

Bitnomial is a derivatives alternate that operates a buying and selling venue, clearinghouse and brokerage for crypto futures and choices that’s regulated by the Commodity Futures Buying and selling Fee (CFTC). In January, the alternate launched month-to-month futures contracts tied to Aptos (APT) marking the primary US-regulated derivatives product for the alt coin. 

Associated: Injective community passes governance vote to slash INJ token supply

Exchanges push to broaden US crypto futures choices

US-regulated crypto futures stay largely concentrated in main belongings like Bitcoin (BTC) and Ether (ETH), with Bitnomial among the many few venues itemizing derivatives tied to altcoins. Increasing these choices has required navigating a shifting and infrequently unsure regulatory surroundings.

In August 2024, Bitnomial moved to listing XRP (XRP) futures via CFTC self-certification, however the SEC challenged the plan, arguing the contracts might require securities alternate registration. 

After submitting a lawsuit in October 2025, Bitnomial dropped the case in March and later that month launched regulated XRP futures for US customers, citing evolving SEC coverage.

Different platforms have taken a extra gradual method. Coinbase launched CFTC-regulated futures tied to Bitcoin and Ether for institutional purchasers in June 2023, later increasing entry with retail-sized contracts in Might 2025 and introducing 24/7 buying and selling to offer round the clock market entry for US members.

Additionally in Might, Kraken acquired futures platform NinjaTrader for about $1.5 billion, gaining a CFTC-registered Futures Fee Service provider and increasing its attain into regulated derivatives markets.

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