Canary Capital Group LLC has launched the Canary Staked INJ ETF, trading under the ticker INJC on Nasdaq, marking what the firm describes as the first US spot exchange-traded fund providing exposure to INJ, the native token of the Injective blockchain network. The fund also seeks to earn additional INJ through participation in Injective's proof-of-stake validation process, with net staking rewards reflected in the fund's net asset value. The launch gives retail and institutional investors access to INJ through standard brokerage accounts. Investors will be watching whether demand materialises for a specialised Layer-1 blockchain ETF beyond the largest digital assets.

Key Points

  • Canary Capital Group LLC (FinanceWire: FNEWS) launched the Canary Staked INJ ETF (Ticker: INJC), listed on Nasdaq
  • INJC seeks price exposure to INJ and aims to earn staking rewards through Injective's proof-of-stake validation process
  • Injective has tokenised over $1 billion in assets and processed more than 3.13 billion transactions as of October 2026
  • Investors should monitor staking reward rates, regulatory developments, and demand for specialised blockchain ETFs

Canary Capital's INJC ETF Structure and Staking Reward Mechanism on Nasdaq

The Canary Staked INJ ETF is structured as an exchange-traded product that is not registered under the Investment Company Act of 1940, meaning it does not carry the same regulatory protections as conventional ETFs or mutual funds. The fund's sponsor will administer staking activities through third-party custodians and staking providers rather than operating a validator node directly. Staking rewards are not guaranteed and may change frequently. The fund's net asset value will reflect net staking rewards earned, though the company cautions that staking carries risks including potential "slashing" penalties if a validator attests to conflicting chain histories or experiences prolonged downtime.

Injective Blockchain's $1 Billion RWA Tokenisation and 3.13 Billion Transactions Milestone

Injective is a Layer-1 blockchain purpose-built for financial applications, offering pre-built modules for trading, tokenisation, derivatives, and on-chain order book exchanges. As of October 2026, the network had processed more than 3.13 billion transactions and permanently burned more than 7.27 million INJ, equivalent to approximately $58 million USD, through its monthly Community Buyback mechanism. The network has tokenised over $1 billion in assets, placing it among leading blockchains for Real-World Assets. Token Terminal reported approximately 257,300 monthly active addresses on Injective as of October 2026, and over $25 million of native USDC stablecoin had been issued on the network to support payments and settlement.

Injective Mint and CypherOS Upgrades Broaden Institutional Appeal Ahead of INJC Launch

Recent protocol upgrades underpin the investment case presented alongside the INJC launch. Injective Mint enables institutions to issue and manage tokenised assets with controls over ownership and transfers, targeting the growing real-world asset sector. The network also showcased CypherOS, described as a full-stack privacy platform capable of enabling confidential trading, transactions, and tokenisation. These additions are designed to attract institutional participants, including Fortune 500 companies, banks, fintechs, and government entities, to Injective's infrastructure. The announcement states that INJ functions as the network's utility token, used for staking, governance participation, and payment of transaction and trading fees.

Key Risks Canary Capital Discloses for INJC Investors Considering Staked INJ Exposure

Canary Capital's disclosure highlights several material risks specific to INJC. Staked assets are not protected by FDIC or SIPC insurance, and custodians and staking providers carry limited liability to the fund for losses arising from the staking programme. Slashing penalties could result in permanent loss of staked INJ, and there is no guarantee the fund would recover staked assets if penalties occur. The fund is described as new with a limited operating history. Digital assets remain largely unregulated, and INJ's price may be subject to rapid swings influenced by media, influencers, and broader market factors. Investors are encouraged to read the prospectus available at canaryetfs.com before investing.