ETF on Injective Reaches $16.12 Million in Assets After Launch on Nasdaq

On November 5, 2026, the American investment company Canary Capital launched the Canary Staked INJ ETF on the Nasdaq exchange under the ticker INJC. The product provides investors with access to the dynamics of the Injective (INJ) token through regular brokerage accounts and involves participation in cryptocurrency staking.

After the first two trading sessions, the fund's net assets reached $16.12 million. Meanwhile, the number of issued shares remained unchanged at 600,000.

On November 6, Eric Chen, co-founder and CEO of Injective Labs, and Canary Capital's head Steven McClurg participated in the Nasdaq opening ceremony dedicated to the fund's launch.

How INJC Assets Changed in the First Days of Trading

According to data published by Canary Capital, as of November 4, before trading began, the fund's net assets were $15 million. The next day, the figure increased to $15.64 million, and by the end of Friday, November 6, it reached $16.12 million.

INJC shares closed trading on November 6 at $26.90, adding $0.75 for the session. The daily trading volume amounted to 11,931 shares.

The net asset value per share (NAV) was $26.86. Thus, the closing market price was 0.17% higher than the NAV.

Despite the increase in the overall value of the fund, the number of issued shares remained at 600,000 over the two trading days. Therefore, the growth in assets cannot automatically be considered an influx of new capital. It may primarily reflect changes in the market value of INJ held in the fund.

How Staking Works in the Canary Capital Fund

INJC differs from a regular spot cryptocurrency fund in that it involves participation in the proof-of-stake mechanism of the Injective network.

According to registration documents, Canary Capital plans to stake at least 90% of the INJ owned by the fund under normal conditions. Some tokens may remain unstaked to cover expenses, process share redemptions, and provide liquidity.

As of November 6, Canary Capital indicated that 100% of the assets considered in the metric were staked or awaiting transfer to the Luganodes validator.

Rewards received, minus applicable expenses, should be reflected in the fund's net asset value. Direct INJ payments to shareholders are not provided.

The sponsor's annual fee is 1.10%. As of November 6, the displayed net staking yield was 0.00%, but this figure is based on historical periods and does not determine future results of the new fund.

Staking is also associated with the risks of validator operations. If network rules are violated, there may be restrictions on receiving rewards and sanctions as provided by the protocol.

INJC is not registered as an investment company under the U.S. Investment Company Act of 1940 and does not provide the same level of regulatory protection as traditional registered funds.

Injective Expands Institutional Infrastructure

The ETF launch coincided with the development of financial services by Injective. On November 2, the project introduced Institutional Rail, a system for connecting financial organizations directly to the block-building infrastructure through specialized application programming interfaces.

According to Injective, the solution allows for faster transaction transmission to validators and preliminary processing confirmations. However, the final inclusion of operations in the blockchain still depends on network consensus.

According to Injective data as of October 22, the network processed over 3.13 billion transactions, and approximately 7.27 million INJ were destroyed through the buyback and burn mechanism. The company also reported the issuance of tokenized assets in the network worth over $1 billion.

At the time of publication by Crypto.news on November 9, INJ was trading around $8.10, having gained 12.74% over the previous seven days. However, this dynamic does not independently determine the demand for the new exchange-traded fund.