Canary Capital has filed with the SEC for a Staked INJ ETF under ticker INJC, marking the first spot ETF product tied to Injective's native token. The firm said the product is "coming soon" but has not yet received regulatory approval. Separately, the Injective Foundation announced Trench Treasury, a new program designed to fund ecosystem projects and compensate community members.
Canary Capital's S-1 filing was submitted on September 24, 2026. The fund would track staked INJ, allowing investors to gain exposure to the token's staking yields without directly managing validators or delegating tokens on-chain. SEC staff must still sign off on the product before launch. The approval timeline for spot crypto ETFs has varied; Bitcoin and Ethereum spot products received clearance within weeks of filing, while newer token products have faced longer review periods.
Injective, a layer-1 blockchain focused on derivatives and perpetuals trading, has seen growing institutional interest in recent months. The token trades with a market capitalization of roughly $1.8 billion as of October 2026. A staked ETF product would give traditional asset managers and registered investment advisors a regulated vehicle to access staking income without custody complications.
Trench Treasury's design and capitalization remain undisclosed. The Injective Foundation said the program would reward community participation and support builders, but released no details on fund size, allocation methodology, or governance structure. The foundation has previously distributed grants to developers building on Injective; Trench Treasury appears to expand that effort under a new brand.
Crypto asset managers have filed for at least 15 spot ETF products in 2026, with approvals granted for Bitcoin, Ethereum, and Solana tokens. Canary Capital has not disclosed anticipated assets under management for INJC. At least 15 alternative layer-1 token products have been filed in 2026.
SEC approval of INJC would determine whether Canary Capital's product launches in 2026 or early 2027.
