18.07.2025 04:03

Canary Capital has submitted a groundbreaking application to the US Securities and Exchange Commission (SEC). This marks the first-ever attempt to create a staked Injective exchange-traded fund (ETF). The news sent ripples through the cryptocurrency market, boosting the INJ token's price by as much as 5%.

This pioneering ETF, tentatively titled the Canary Staked INJ ETF, aims to provide regulated access to staked INJ tokens for both retail and institutional investors. The filing highlights growing institutional interest in Injective, a Layer-1 blockchain specifically designed for decentralized finance (DeFi) applications. This increased interest is further underscored by the presence of major tech companies like Google Cloud and T-Mobile on Injective's council. Injective itself described the ETF as a crucial bridge, connecting traditional finance with on-chain finance, offering direct exposure to staked INJ through a regulated investment vehicle.

Unlike simple token holdings, the proposed ETF intends to actively participate in Injective's proof-of-stake consensus mechanism by deploying the held INJ tokens. This active participation distinguishes it from other passive investment vehicles. The announcement, made via social media, generated considerable excitement. The INJ price surged to $13.92, accompanied by a remarkable 3.95% increase in daily trading volume.

This SEC filing follows Canary Capital's earlier strategic move to register a statutory trust for a staked Injective ETF in Delaware. This prior action suggests a carefully planned and deliberate approach to bringing this innovative investment product to market. With the necessary incorporation and S-1 filing complete, the expectation is that an exchange will soon file the 19b-4 form, paving the way for the ETF's listing and trading. The successful launch of this ETF could signify a significant step forward in the mainstream adoption of cryptocurrencies.