Canary’s staked INJ ETF reaches $16.12 million in assets

Trading under the ticker INJC, the fund launched on Nasdaq on November 5. Its published records show $15 million in net assets and 600,000 shares outstanding on November 4. Assets rose to $15.64 million by Thursday’s close and $16.12 million on Friday, when shares closed at $26.90, up $0.75 for the session. The price was about 0.17% above the fund’s $26.86 net asset value. With shares outstanding unchanged through November 6, the asset increase does not establish that investors added new subscriptions during the first two trading days.

INJC combines exposure to Injective’s native token, INJ, with staking. Canary expects to stake at least 90% of its holdings under normal circumstances; its November 6 figures showed all eligible holdings either staked or queued through Luganodes. After applicable costs, staking rewards are reflected in the fund’s net asset value rather than paid directly to shareholders. The sponsor fee is 1.10% annually. The fund’s website showed a 0.00% net staking yield on November 6, a historical-period figure that does not indicate what the new fund will earn.

Canary says the ETF offers access to Injective through a familiar exchange-traded structure. Staking carries risks, including possible penalties if validators fail to meet network requirements. INJC is not registered under the Investment Company Act of 1940 and does not offer the same protections as traditional registered investment funds.

The launch coincided with other Injective announcements. On November 2, the company introduced Institutional Rail, which connects financial institutions to network block-production infrastructure through dedicated APIs. Injective said the service offers predictable transaction inclusion and early acknowledgments while institutions retain custody; final settlement still depends on validator consensus. The company identified banks, trading firms and enterprise applications as potential users, with the initial rollout limited to selected institutions and further access available through an application process.

INJ traded near $8.10 on November 9, little changed over 24 hours but up about 12.74% over seven days. It ranged from $7.82 to $8.29 in the latest session, with market capitalization near $810 million. Nasdaq’s November 4 listing notice named Flow Traders U.S. as INJC’s designated liquidity provider.