Canary's staked Injective ETF debuts on Nasdaq as INJC

Canary Capital has launched the Canary Staked INJ ETF on Nasdaq under the ticker INJC, with trading starting on November 5, 2026, The Block reports. The fund gives brokerage-account access to the Injective (INJ) token and reflects staking rewards in its share value.

Details

Per the November 4 424B3 prospectus, the trust will stake at least 90% of its INJ under normal circumstances. The sponsor fee is 1.10% a year on INJ holdings, though the sponsor may waive it at its discretion. BitGo Bank & Trust holds all tokens in cold storage.

Staking rewards are not paid out in cash but stay in the fund. Staking costs shared among the provider, sponsor and custodian will not exceed 30% of rewards, leaving the trust 70%. The Injective Foundation intends to buy up to $15 million of shares at $25 each, as described in the S-1/A.

Canary CEO Steven McClurg said Injective "was designed from the ground up for trading, tokenization, markets, and financial applications." Two other INJ ETF applications, from 21Shares and REX-Osprey, are still pending at the SEC.

What it means for the market

The launch adds to the growing set of US altcoin ETFs with built-in staking. Early flows will show how much demand there is for a regulated INJ product. For spot bitcoin fund data, see the ETF flows page. This is not investment advice.