Canary Capital has registered a statutory trust in Delaware for a proposed Staked Injective Coin (INJ) Exchange-Traded Fund (ETF). The fund only tracks the price of Injective’s native token and also incorporates staking rewards. This is a first for the American ETF market focused on the Injective blockchain.
The fund aims to provide investors with exposure to the spot price of Injective (INJ). The prominent layer-1 blockchain is known for its focus on artificial intelligence agents and the tokenization of real-world assets.
Unlike traditional spot ETFs, this fund is designed to stake its INJ holdings, allowing it to earn additional tokens as rewards for helping secure the Injective network. These staking rewards would be reflected in the ETF’s net asset value, potentially offering investors both price appreciation and passive income.
Initial Delaware Registration
Registering a trust in Delaware is a standard first step for ETF issuers in the United States. It provides the legal structure required before filing further documents with the Securities and Exchange Commission (SEC). While the trust’s creation does not guarantee an eventual ETF launch, it signals serious intent and is a prerequisite for the regulatory process.
To formally launch the Staked INJ ETF, Canary Capital must submit a Form 19b-4 to the exchange where the ETF is listed and a Form S-1 registration statement to the SEC. The SEC will closely examine these filings as it continues to review financial products tied to cryptocurrencies.
Canary Capital’s action comes after a string of comparable filings for staked ETFs based on other blockchains. These include Cronos (CRO), Sui (SUI), and Tron (TRX). These filings demonstrate the company’s broader plan to expand the number of crypto ETFs it offers, providing American investors with new options for gaining exposure to digital assets and on-chain yields.
If accepted, the Canary Staked INJ ETF might act as a model for staking-based ETFs in the future. This could bridge the divide between conventional investment vehicles and decentralized finance.
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