Canary Capital has submitted a filing to the U.S. Securities and Exchange Commission (SEC) to launch the inaugural staked Injective (INJ) exchange-traded fund (ETF), marking a strategic expansion of its altcoin-focused ETF initiatives. The proposed Canary Staked INJ ETF would actively stake INJ holdings on Injective's proof-of-stake network, distributing estimated annual rewards of 10%-12% directly to shareholders. This provides institutional investors with regulated access to on-chain yield.
The filing signals heightened confidence in Injective's ecosystem, which boasts backing from major firms like Google Cloud and T-Mobile. Concurrently, Injective Labs is engaged in discussions with U.S. regulators to establish compliant DeFi pathways. Led by former Valkyrie CIO Steven McClurg, Canary established a Delaware statutory trust for the fund—mirroring prior filings—to align with SEC expectations on custody, validator selection, and yield management.
This initiative forms part of Canary's broader push to integrate staking into traditional finance products, following earlier ETF applications for Solana (SOL), XRP, Hedera (HBAR), Sui (SUI), and Pudgy Penguins NFTs. The timing coincides with Crypto Week 2025, as lawmakers debate regulatory frameworks for staking. SEC openness to yield products and parallel efforts by firms like BlackRock to activate staking for Ethereum ETFs underscore a shifting landscape. McClurg declared: "History is being made today!", emphasizing the ETF's role in enabling regulated access via traditional brokerages.