Injective’s native token INJ rose roughly 5% to 6% on November 5 after the Canary Staked INJ ETF began trading on Nasdaq under the ticker INJC. The product gives traditional brokerage account holders regulated access to the token’s price performance while also seeking additional returns through network staking.

The fund holds INJ directly and aims to stake at least 90% of its holdings under normal conditions. Staking rewards are intended to boost the net asset value rather than being paid out as cash distributions. BitGo serves as custodian for the tokens.

Structure and Fees of the New Fund

Canary Capital Group sponsors the Delaware trust. Its primary objective is exposure to the price of INJ after expenses. A secondary objective is to generate additional INJ by participating in the Injective proof-of-stake network.

The annual sponsor fee is set at 1.10%. Up to 30% of staking rewards may be allocated to service providers. The remaining rewards are expected to be re-staked and reflected in the daily net asset value. A portion of holdings may be kept liquid to handle redemptions.

The Injective Foundation has indicated plans to purchase up to $15 million of shares at launch, settling the purchase in INJ tokens. Authorized participants named in related filings include firms such as Jane Street, Cumberland and Flowdesk.

Market Reaction and Broader Context

INJ advanced while major cryptocurrencies such as Bitcoin declined on the same day. The move followed Nasdaq’s formal listing approval and the effectiveness of the fund’s registration statement. Trading commenced under the INJC ticker, marking one of the first U.S. exchange-traded products focused specifically on a staked altcoin position.

The development continues a wider pattern of institutional products for assets beyond Bitcoin and Ethereum. Similar vehicles linked to other networks have already entered the market, and additional INJ-related applications remain pending from other issuers.

Injective has processed more than 3 billion transactions and permanently removed millions of INJ tokens through its ongoing buyback-and-burn mechanism. An affiliate of the project recently obtained SEC registration as a transfer agent, supporting broader tokenization efforts that have already surpassed $1 billion in assets on the network.

Operational Details and Remaining Considerations

The fund is not registered under the Investment Company Act of 1940. Staked tokens are subject to the network’s unbonding period, which can limit immediate liquidity if large redemptions occur. Price volatility in INJ remains a core risk, and staking rewards do not eliminate the possibility of capital losses.

As of the latest available figures associated with the launch window, the trust reported net assets near the seed level and a market price aligned with its net asset value. Daily trading volume and sustained inflows will determine the product’s longer-term scale.

The listing places INJ alongside other digital assets that have moved from pure crypto-native trading venues into regulated equity market infrastructure. Market participants will monitor initial demand, any adjustments to the prospectus, and further developments from the Injective ecosystem in the coming sessions.