Canary Capital Brings Injective to Nasdaq With New INJ Staked ETF
Key Takeaways
Canary Capital launched a Staked INJ ETF to give traditional investors exposure and staking rewards.Injective processed 3.13 billion transactions and burned over 7.27 million INJ, boosting institutional adoption.The ETF expects to broaden access to onchain markets for traditional accounts by November 2026.
Meeting Demand for Specialized Blockchain Networks
Digital asset investment management firm Canary Capital has launched an exchange-traded fund (ETF) based on Injective (INJ), providing investors exposure to the cryptocurrency through traditional brokerage accounts. In addition, the product offers potential returns from blockchain staking rewards.
The firm’s CEO, Steven McClurg, said the launch expands Canary Capital’s digital asset investment offerings, which include the Canary XRP ETF and Canary HBAR ETF. It also reflects growing institutional interest in cryptocurrency products that combine price exposure with staking rewards.
“The Canary Staked INJ ETF gives investors access to a blockchain purpose-built for finance through a familiar exchange-traded structure, while also enabling investors to benefit from potential staking rewards,” McClurg said.
McClurg added that investors are increasingly looking beyond established cryptocurrencies toward specialized blockchain networks supporting emerging financial applications, including tokenization, trading, and decentralized markets.
According to a press release, Injective has tokenized more than $1 billion in assets, positioning the network among blockchain platforms pursuing the market for tokenized financial instruments. As of Oct. 22, the network had processed more than 3.13 billion transactions and permanently burned over 7.27 million INJ, valued at approximately $58 million, through its token buyback mechanisms.
Data from analytics platform Token Terminal showed approximately 257,300 monthly active addresses on Injective as of October.
INJ is one of the biggest gainers in the top 100 cryptocurrencies over the last 24 hours, recently up about 5% at a price of $8.23, pushing its weekly gain to 10%. The daily uptick comes amid the ETF launch—and a broader crypto market decline mirroring a tech stock sell-off. Bitcoin is down about 5% on the day at a price above $76,000.
Bridging Traditional Finance and Onchain Markets
The network has introduced several upgrades aimed at expanding institutional adoption. These include Injective Mint, which enables institutions to issue and manage tokenized assets with customizable ownership and transfer restrictions. Another initiative, CypherOS, provides privacy-focused infrastructure designed to support confidential trading, transactions and asset tokenization.
Meanwhile, more than $25 million in native USDC stablecoins had been issued on Injective as of October, supporting payment and settlement activities across the network.
Eric Chen, co-founder of the Injective Foundation, said the ETF would make INJ accessible to a broader investor base without requiring direct interaction with cryptocurrency exchanges or blockchain wallets.
“Investors can now gain exposure to INJ through the brokerage accounts they already use,” Chen said. “We built Injective to bring financial markets onchain. Canary’s launch connects that mission to a broader base of investors, giving them a familiar way to access the asset that powers Injective.”
