Canary Capital has proposed an exchange-traded fund (ETF) that would stake at least 90% of its Injective (INJ) token holdings under normal conditions. The fund aims to hold INJ directly and delegate tokens to validators on the Injective network to earn staking rewards, while keeping some tokens unstaked for liquidity and operational needs. The ETF would trade on the Cboe BZX Exchange under the ticker INJS if approved by regulators. However, the proposal is still pending approval, and the fund carries risks including potential validator penalties and lacks protections under the Investment Company Act of 1940. The proposal also considers liquidity and unbonding periods to align with share redemptions.
Canary Capital's plan to stake most of its Injective tokens highlights the growing interest in staking strategies within the crypto space. On Pluang, INJ trades at Rp138.791 with a market cap of Rp14,02 trillion as of Oct 14, 2026, 22:12 WIB. The token's price has dipped 1.20% in the past day, with a 24-hour trading volume of Rp2,81 trillion and a balanced order activity of 52% sell and 48% buy. Typical holders keep their INJ for about 38 days on Pluang.
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