According to online reports, the Cboe BZX exchange submitted two crypto ETF applications to the SEC on Monday, namely the pledged INJ fund initiated by Canary and the Solana spot ETF that Invesco partnered with Galaxy. Both applications are the first step in the SEC approval process. Canary Fund tracks Injective's native asset, INJ, and introduces a pledge mechanism. Currently, under the leadership of the Trump administration, the SEC's review atmosphere has become more relaxed and is simultaneously evaluating multiple fund proposals including DOGE, SOL, XRP, etc. Previously, the SEC's corporate finance department had hinted that some pledge activities did not constitute securities issuance, sending a positive signal for pledged ETFs.