- The fund would hold Injective Protocol’s native token, INJ, and stake a portion of it via approved validator providers
- Injective’s price surged up to 14% following the news, currently hovering around $14
- Canary Capital has similar filings underway for assets such as Solana, XRP, Hedera, SUI, and Tron
Canary Capital, a Delaware-based asset manager, has filed an S‑1 registration with the US SEC for the Canary Staked INJ ETF. This marks the first-ever US ETF that offers exposure to INJ, Injective Protocol’s native token, plus on-chain staking rewards.
The fund would hold INJ and stake a portion of it via approved validator providers, passing annual yields (estimated to be around 10% to 12%) to ETF shareholders.
Injective’s price surged up to 14% following the news, currently hovering around $14. Also, DEX volumes of Injective have tripled recently (from $0.4 million to $1.1 million daily), and TVL (Total Value Locked) has climbed to roughly $109 million, which is close to its early 2025 peak.
As Injective trades within the critical $14-$16 range, its performance here will likely shape its immediate future, especially as excitement around the new ETF filing influences its price. In contrast, if it struggles to convincingly break and hold above $16 amidst the current positive sentiment, moving higher could prove challenging.
Either way, the ETF announcement represents the convergence of TradFi and DeFi, offering both price exposure and staking yield in a regulated format. In addition, it is lowering technical barriers for mainstream investors.
It can also serve as a model for altcoin ETFs in the United States, considering Canary has similar filings underway for assets such as Solana, XRP, Hedera, SUI, and Tron.
Injective has been in the spotlight lately
The blockchain recently launched an EVM-compatible testnet, making it the first L1 chain with native Ethereum compatibility and no bridge needed.
Interestingly, daily active addresses surged almost ten times since the start of the year, going from 5,000 to over 80,000 by early July. Also, on‑chain usage soared nearly 1500% since January, with INJ gaining as much as 46.8% over Q2.
Last week, Injective introduced the Injective Council in collaboration with major players like Google Cloud and Deutsche Telekom. The group’s main goals are to help large businesses use Injective more quickly, develop new and exciting things in the world of decentralized finance, and help the platform grow to allow real-world assets to be owned and traded digitally around the world.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
