Canary Capital Files for Staked Injective ETF, Will INJ Price Recover From 30% Monthly Drop?

In the latest move, plus manager Canary Capital has submitted a filing to the U.S. Securities and Exchange Commission (SEC) to bring a staked Injective ETF to the market.

As a result, investors would get a regulated vulnerability to the INJ cryptocurrency on with the enactment to gain staking rewards.

As per the latest regulatory filing, plus manager Canary submitted its S-1 registration connection with the U.S. Securities and Exchange Commission for its projected staked Injective (INJ) exchange-traded fund.

If approved, the Canary Staked Injective ETF would database connected Cboe and supply investors with vulnerability to the spot terms of INJ crypto.

The ETF volition besides connection investors the accidental to gain further yields done staking rewards. It joins respective different crypto ETFs presently awaiting US SEC support for 2026.

The money operation allows the sponsor to involvement each INJ tokens held by the spot done 1 oregon much staking providers. However, they haven’t announced immoderate circumstantial staking partners truthful far.

The filing outlines cardinal operational details of the product. U.S. Bancorp Fund Services has been appointed arsenic the transportation cause and currency custodian.

At the aforesaid time, the BitGo Trust Company volition service arsenic the integer plus custodian. The ETF volition way the show of Injective based connected the INJ-USD CCIXber Reference Rate terms index.

Under the projected structure, shares of the ETF volition beryllium created and redeemed successful blocks of 10,000 shares.

Canary besides disclosed that Paralel Distributors LLC volition enactment arsenic the selling cause for the product.

The Injective ecosystem has seen immoderate coagulated maturation successful caller years. Transaction enactment crossed the Injective ecosystem has surged sharply implicit the past 3 years.

In 2023, play transaction counts were mostly confined to the 0-1,000 range. That fig has since climbed dramatically and is present approaching 1 cardinal transactions per week.

The information highlights the expanding usage of the Injective ecosystem beyond basal token transfers.

Transaction enactment spans decentralized exchanges, minting, staking, derivatives, swaps, NFT interactions, and different on-chain operations

The protocol is besides catering to cardinal developments successful the tokenization of real-world assets.

Injective’s Korea Lead, Andrew (@AndKrypto), spoke connected Dec. 18 astatine Hashed’s Open Research Forum, wherever helium outlined however a $10 cardinal owe portfolio from PAPL pineapple is being brought on-chain via Injective.

He besides discussed Injective’s relation successful advancing real-world plus (RWA) adoption. This includes exploring caller usage cases similar on-chain trading of pre-IPO stocks.