Canary Capital Files for INJ ETF With Staking Rewards, Adding to List of Products

Hedge fund manager Canary Capital has filed with the U.S. Securities and Exchange Commission to launch an exchange-traded fund tied to Injective’s INJ token, the company disclosed in a filing on Thursday.

Called the Canary Staked INJ ETF, the proposed product would track the price of INJ while also offering staking rewards to investors. Injective is the native token of the Injective blockchain, a layer-1 protocol built for decentralized finance applications.

In a press release, the firm said it has seen “significant and growing demand” from both retail and institutional investors for regulated exposure to Injective. The ETF is designed to lower technical hurdles and promote wider adoption of staking-based crypto investments, according to the form.

Staking allows token holders to lock up their assets to help secure a blockchain network and, in return, earn periodic rewards. These rewards often require self-custody or navigating on-chain interfaces — something the proposed ETF structure would aim to simplify.

This latest filing adds to Canary Capital’s growing list of pending crypto ETFs. The hedge fund is also seeking approval for ETFs tracking Litecoin

While the SEC has approved spot bitcoin