Canary Capital Launches Staked INJ ETF on Nasdaq, Giving Brokerage Investors Access to Injective

A new fund is now available for people who want exposure to the Injective network without buying tokens on a crypto exchange. Canary Capital has started trading its Staked INJ ETF on the Nasdaq under the ticker INJC.

How the INJC ETF Earns Staking Rewards

The fund holds INJ, the native token of Injective, and takes part in the network’s proof of stake validation to earn more tokens. Net staking rewards are reflected in the fund’s net asset value. Canary CEO Steven McClurg said investors are looking beyond the largest digital assets toward specialized networks building onchain financial infrastructure. INJ rose more than 5% on Thursday.

What Injective Is Building

Injective is a Layer 1 blockchain aimed at trading, derivatives and tokenization. The project says it has tokenized more than $1 billion in assets. As of Oct. 22 it had handled over 3.13 billion transactions and permanently burned more than 7.27 million INJ through monthly buybacks.

Regulatory Steps and Competing Funds

In August, an affiliate called Injective Institutional Services became an SEC registered transfer agent. CEO Eric Chen described that as the very beginning of US licensing and said an Injective institution could eventually act as a clearinghouse for settlement. He added that the ETF lets investors use brokerage accounts they already have. Two other INJ funds are still proposed, from 21Shares and REX Osprey.