Injective has taken a key step toward traditional finance integration as Canary Capital officially registered a Delaware trust for a staked INJ ETF. Filed under the name ‘Canary staked INJ ETF’ with registration number 10221067, the entity marks the first stage of a potential application for a US-based exchange-traded fund focused on the INJ token.
The initiative aims to offer investors exposure to INJ while allowing staking benefits and passive income generation.
ETF filing process begins
The creation of the trust marks the first requirement before proceeding with a formal filing to the US Securities and Exchange Commission. This development could initiate the waiting and review process leading up to the ETF’s approval. The fund is expected to be initially accessible to US investors. The Injective team has indicated a possible ETF filing soon, underlining its commitment to reaching mainstream financial markets. INJ is part of a select group of tokens developed in the United States, backed by domestic fundraising and a US-based team.
European momentum and market activity
While the US filing process begins, INJ has already seen exposure through European markets. 21Shares launched an exchange-traded product based on INJ that includes staking proceeds. Although ETPs offer easier deployment compared to ETFs, the goal remains to secure ETFs for higher liquidity and broader investor access.
Altcoin ETFs remain rare, with most market focus still on BTC and ETH. Canary Capital has consistently worked toward creating ETFs for other long-standing altcoins including TRON, Litecoin, Hedera, Sui, Axelar, and Pengu. The firm continues to target market expansion while most new ETF filings are focused on Solana and XRP.
DeFi adoption and token performance
The platform, Injective, aims to be efficient for decentralized finance and is currently growing its user base and transaction volume. About 48,000 active users use the chain daily, and around $40,000 in fees are earned, but because of the current rewards, the chain still loses more than $1 million each day. There is a fixed supply of 100 million INJ tokens, and more than 97 million have been released so far.
Today, Injective’s value locked is at $28.86 million, which is less than that of other Layer 1s, yet it is growing as DeFi users continue to increase. The shares of INJ increased by 4.7 percent to $13.56 after the news was released. The crypto has gained as much as $40 and some analysts say it is less valued than it should be. Lately, the amount of open interest rose to $68 million, which shows traders are getting more involved.