Staking Meets ETFs ... Injective ETF Lists on Nasdaq

[Financial News] Crypto exchange-traded funds (ETFs) are evolving. The focus is shifting from “which coin does it track?” to “what financial needs does the network meet?” A spot ETF holding INJ, the token of financial-focused blockchain company Injective, has been listed on the Nasdaq in the United States. It also incorporates a staking-reward structure. According to the crypto industry on the 6th, U.S. digital asset manager Canary Capital launched the Canary Staking INJ ETF, a spot ETF based on Injective’s INJ token, on the 5th (local time). Its ticker is INJC. Nasdaq reportedly approved the ETF’s listing on the 4th. INJC directly holds spot INJ, so the fund’s value changes with the price of INJ. Investors can buy and sell the ETF through a brokerage account that supports INJC. They do not need to buy INJ directly or set up a crypto wallet.
Some of the INJ held by the fund is used for staking. Staking involves committing crypto assets to a blockchain network to validate transactions and support its operations in return for rewards. INJC reflects the net rewards, after expenses, in the fund’s net asset value (NAV). The rewards are not paid directly to investors.
Investors hold the ETF, not INJ. Its actual trading price may differ from its NAV. Staking rewards also vary depending on network conditions, so returns are not guaranteed.
Injective is a layer-1 blockchain that supports everything from asset issuance to trading and settlement. Trading functionality for recording and executing buy and sell orders is built into the network, allowing institutions and developers to use it to create tokenized assets and spot or derivatives services. INJ is used on the network to pay fees, validate transactions, maintain security and vote on governance.
Injective has also launched Injective Mint, a feature for institutions to issue and manage assets, and CypherOS, which protects the confidentiality of information during the tokenization process. Native USD Coin (USDC) exceeded $25 million as of October, and the cumulative number of transactions processed topped 3.13 billion as of October 22. According to Token Terminal, there were about 257,300 monthly active addresses in October.
Canary Capital CEO Steven McClurg said, “In digital asset investing, it is becoming increasingly important to understand what financial needs each network actually meets,” adding, “This ETF is a product that focuses on the growth potential of this kind of financial infrastructure.”
Injective Foundation co-founder Eric Chen said, “This Nasdaq listing is an opportunity to introduce Injective’s financial technology and services to investors in the U.S. securities market,” adding, “We will expand its use in real-world financial settings, from institutions’ asset issuance to trading and settlement.”
[email protected] Han Young-jun Reporter