Canary Capital has launched the Canary Staked INJ ETF (NASDAQ:INJC), offering investors exposure to Injective’s native INJ token alongside potential staking rewards.
The fund seeks to track INJ’s price while participating in the Injective network’s proof-of-stake validation process. Net staking rewards will be reflected in the ETF’s net asset value.
Injective, a Layer-1 blockchain focused on on-chain financial applications, has tokenized more than $1 billion in assets and processed over 3.13 billion transactions as of Oct. 22. Its monthly token buybacks have permanently burned more than 7.27 million INJ, worth approximately $58 million.
“Investors are increasingly looking past the largest digital assets and toward the specialized networks building the next generation of on-chain financial infrastructure,” said Steven McClurg, CEO of Canary Capital.
QUICK CONTEXT: Staking Adds a New Dimension to Crypto ETFs
Crypto ETFs are increasingly moving beyond straightforward price exposure, with staking-enabled products allowing investors to potentially earn additional returns from blockchain validation activities. Staking involves locking up cryptocurrency to help secure a proof-of-stake network and validate transactions in exchange for rewards.
For ETF investors, this offers a way to access staking economics through traditional brokerage accounts without directly managing crypto wallets or participating in network validation.
However, staking rewards are not guaranteed and can fluctuate depending on network activity and other factors. Investors also face risks associated with token price volatility, network security, liquidity and potential staking restrictions.
Canary Capital’s INJC adds another specialized digital asset product to the expanding crypto ETF landscape, targeting investors interested in blockchain infrastructure beyond Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH).
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