Canary Capital Launches Staked Injective ETF on Nasdaq

Canary Capital has entered the U.S. exchange-traded fund market with the launch of its staked Injective ETF on Nasdaq, trading under the ticker INJC, according to CryptoNews. The fund debuted on November 5, providing investors with direct exposure to Injective's native cryptocurrency combined with participation in network staking.

Opening Ceremony and Fund Growth

According to Nasdaq's announcement, Injective Labs CEO Eric Chen joined Canary Capital CEO Steven McClurg to ring the Nasdaq opening bell on November 6. Published records show the fund began its debut with $15 million in net assets and 600,000 shares outstanding. By Friday, net assets reached $16.12 million, while the share count remained at 600,000 throughout the first two trading days.

Staking Structure and Operational Details

Unlike conventional spot cryptocurrency funds, INJC seeks to earn additional tokens through Injective’s proof-of-stake system. Under the fund's SEC filing, Canary expects to stake at least 90% of its holdings under normal circumstances, with published figures showing 100% of eligible holdings staked or queued for staking through Luganodes. Net earnings are reflected in the fund's asset value rather than being paid directly to shareholders. The fund charges an annual sponsor fee of 1.10%, and Flow Traders U.S. acts as the designated liquidity provider.

Key facts

• Canary Capital launched the staked Injective ETF on Nasdaq under the ticker INJC on Nov. 5.
• The fund reached $16.12 million in net assets by Friday.
• Share count remained at 600,000 during the first two trading sessions.
• The product stakes at least 90% of its holdings through Luganodes to earn proof-of-stake rewards.
• The annual sponsor fee is set at 1.10%, with Flow Traders U.S. serving as the designated liquidity provider.