Canary Capital amends staked Injective ETF filing, targets 90% INJ staking

  • Canary Capital submitted Amendment No. 3 for its Canary Staked Injective ETF.
  • Canary expects to stake at least 90% of the fund’s INJ.
  • INJ traded at $8.12 after reaching an intraday high of $8.66.

Canary Capital submitted Amendment No. 3 to its Form S-1 for the Canary Staked Injective ETF to the U.S. Securities and Exchange Commission (SEC), seeking to list the fund on Cboe BZX under the ticker INJS. If approved, the ETF would provide regulated spot INJ exposure and additional earnings from staking, a process of locking tokens to support a network and earn rewards. Canary now expects to stake at least 90% of the fund's INJ, compared with all INJ in previous filings. The amended prospectus identifies CoinDesk's Injective Benchmark Rate 60m NY Rate index as the pricing reference and names U.S. Bank NA, BitGo Bank & Trust and U.S. Bancorp Fund Services in custody, administration and transfer roles. The fund would issue or redeem shares in 10,000-share blocks, with Paralel Distributors LLC serving as marketing agent. The filing does not yet disclose management or staking fees. INJ rose between 5% and more than 6% over 24 hours in the source's cited market updates, reaching $8.60 and later trading at $8.12 after ranging from $7.81 to $8.66. The move followed attention around Injective CypherOS and Thursday's Meridian mainnet upgrade, which added support for regulated tokenized assets. Futures open interest also increased, although trading volume fell 6% over 24 hours and technical indicators pointed to possible pullback risk.

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