Canary's staked Injective ETF debuts on Nasdaq as INJ leads gainers

Summary

Canary Capital launched the Canary Staked INJ ETF on Nasdaq under the ticker INJC, giving investors exposure to Injective's INJ token, The Block reported; CoinDesk said Nasdaq approved the listing according to an SEC filing.

The fund aims to earn extra INJ by taking part in Injective's proof-of-stake validation, with net staking rewards reflected in its net asset value, The Block said.

INJ led the CoinDesk 100 on Thursday morning, up around 6% since midnight UTC and about 10% over 24 hours, CoinDesk reported, while The Block said the token was up more than 5% on the day.

Two other INJ-linked ETF applications are pending, the 21Shares Injective ETF and the REX-Osprey INJ Staking ETF, according to The Block.

Key facts

• Canary CEO Steven McClurg: "We believe investors are increasingly looking past the largest digital assets and toward the specialized networks building the next generation of on-chain financial infrastructure." (The Block)
• Injective CEO Eric Chen: "Investors can now gain exposure to INJ through the brokerage accounts they already use." (The Block)
• Injective says it has tokenized over $1 billion in assets and, as of Oct. 22, had burned more than 7.27 million INJ through monthly buybacks, The Block reported. (The Block)
• An Injective affiliate, Injective Institutional Services, became an SEC-registered transfer agent in August, The Block noted. (The Block)

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