Nasdaq Lists Canary Staked INJ ETF Under Ticker INJC

Nasdaq began listing the Canary Staked INJ ETF on Thursday under ticker INJC, a Nasdaq trader alert dated Nov. 4 said, with Flow Traders U.S. as the designated liquidity provider.

The fund's aim is exposure to the price of Injective's INJ token, minus expenses, with a secondary goal of earning more INJ by staking on Injective's proof-of-stake network, a Nasdaq information circular says. Net staking rewards are meant to show up in the fund's net asset value.

How a staked crypto ETF works

Shareholders buy and sell INJC on Nasdaq like a stock. They don't hold INJ wallets themselves. The trust holds INJ with BitGo Bank & Trust as crypto custodian and U.S. Bank for cash, the circular says. Canary Capital Group sponsors the product. Creation and redemption happen in 100,000-share blocks for authorized participants only.

Injective is a layer-1 blockchain built for trading and on-chain finance. Staking means locking tokens to help validate the network and earn rewards paid in more of the same token. Here that reward stream is meant to sit inside the ETF's NAV rather than as a separate cash dividend for most holders.

The Block reported the debut and noted two other INJ ETF filings still pending: 21Shares Injective and REX-Osprey INJ Staking. Canary Capital CEO Steven McClurg said in a company release that investors are looking past the largest digital assets toward specialized networks. The circular points readers to the prospectus at canary.capital for fees and full risks, including INJ price volatility and custody key loss.

Daily valuation feeds for INJC began with the listing on Thursday, Nasdaq said. The circular points to canary.capital for the prospectus, fees and full risk disclosure.