First staked INJ ETF starts trading on Nasdaq under the ticker INJC

The first US exchange-traded fund that holds and stakes Injective’s INJ token began trading on Nasdaq on 5 November. The Canary Staked INJ ETF trades under the ticker INJC and adds the staking rewards it earns to its net asset value, The Block reported. Canary filed its final prospectus with the SEC on 4 November.

How the fund earns staking rewards

Canary plans to stake at least 90% of the fund’s INJ under normal conditions, according to the prospectus. Its main terms:

• sponsor fee: 1.10% a year, charged in INJ;
• the fund keeps 70% of staking rewards, and the staking provider, the sponsor and the custodian share the other 30%;
• custodian: BitGo Bank & Trust;
• unstaking takes 21 days, and during that time the INJ earns nothing and cannot move.

The fund pays no separate distributions: rewards raise the value of each share. If rewards fall short of the fee and other costs, the amount of INJ behind each share shrinks over time. The prospectus also warns that the 21-day lock can delay redemptions, and the fund has no credit line to cover that gap.

A quiet debut

About 2,900 shares changed hands on the first day, with a close near $26.15, KuCoin reported, citing Yahoo Finance data. The Injective Foundation plans to buy up to $15 million of shares at $25 each and paid $225,000 toward the sponsor’s setup costs.

Canary CEO Steven McClurg said that “Injective was designed from the ground up for trading, tokenization, markets, and financial applications.” Two more INJ funds wait for approval: the 21Shares Injective ETF and the REX-Osprey INJ Staking ETF. Morgan Stanley already sells staking ETPs on ether and solana.

INJ price

INJ traded at $8.15 on Friday, down 3.7% in 24 hours and up 12.9% over the week, by CoinGecko data. The token sits 84.5% below its March 2024 record of $52.62, and its full supply of 100 million INJ is worth about $815 million. Injective also courts traditional companies: POSCO International moved its receivables onto the network.

What it means for you

INJC lets you hold INJ and collect staking income through a brokerage account, without running a wallet or picking a validator. You pay 1.10% a year and give up 30% of the rewards for that. The fund adds demand for INJ only when new money arrives, because every new share needs INJ behind it, and on day one that money was small. If the mechanics are new to you, start with our staking guide.

Based on The Block’s report of 5 November 2026 and Canary’s prospectus filed with the SEC on 4 November. INJ price from CoinGecko on 6 November. This is not investment advice.