Canary Capital's Staked INJ ETF began trading on Nasdaq on November 5 under the ticker INJC, giving US brokerage accounts a regulated route to Injective's INJ token with staking built in. Injective announced the launch the same day, calling INJC the first US ETF for INJ.
Nasdaq approved the listing earlier that week, according to a November 3 SEC filing from Canary. The fund expects to stake at least 90% of the INJ it holds and to restake net rewards automatically. An October 23 filing set a 1.10% fee, with staking fees expected to take 30% of rewards and leave 70% for the fund. The same filing moved the listing to Nasdaq from Cboe BZX.
BitGo, the NYSE-listed custodian with $65.2 billion on its platform, holds the fund's INJ. Jane Street and Cumberland signed on as INJ trading counterparties, the October 23 filing shows. The Injective Foundation plans to buy up to $15 million of INJC shares at $25.00 each as seed capital for the fund.
Injective CEO Eric Chen and Canary Capital CEO Steven McClurg rang the Nasdaq opening bell on November 6 to mark the launch. "Investors can now gain exposure to INJ through the brokerage accounts they already use," Chen said. Injective says only around a dozen crypto assets have a US ETF.
Other INJ funds are lining up. 21Shares has filed for a spot Injective ETF under the ticker TINJ, which also plans to list on Nasdaq. INJ futures have traded on Bitnomial, a CFTC-regulated exchange owned by Kraken's parent Payward, since April 15. Europe has had an INJ product since 2024, when the AINJ ETP listed on Euronext with staking from day one.
INJC is an exchange-traded product that is not registered under the Investment Company Act of 1940, and an investment in the fund is not a direct investment in INJ, according to Canary.