Canary Capital launched the Canary Staked INJ ETF, offering exposure to Injective’s native token through a Nasdaq-listed fund trading under the ticker INJC, The Block reported on November 5, 2026. INJ was up more than 5% that Thursday, though the report did not establish that the launch caused the gain.
Exposure to INJ and staking rewards
The fund seeks to earn additional INJ by participating in Injective’s proof-of-stake validation process. Net staking rewards are reflected in the ETF’s net asset value.
Injective is a Layer 1 blockchain focused on onchain financial applications, including trading, derivatives and tokenization.
In a press release, Canary Capital CEO Steven McClurg said Injective was designed for trading, tokenization, markets and financial applications. He described the launch as reflecting Canary’s belief that investors are looking beyond the largest digital assets toward specialized networks building onchain financial infrastructure.
Injective CEO Eric Chen said in a Thursday release that the fund allows investors to gain INJ exposure through brokerage accounts they already use. That provides a familiar access route to the token; the source did not report ETF inflows or establish how much investor demand the launch attracted.
The institutional backdrop
The ETF followed other steps in Injective’s tokenization effort. In August 2026, affiliate Injective Institutional Services became an SEC-registered transfer agent. Speaking to The Block the month before the ETF launch, Chen described transfer-agent registration as “basically the very start” of U.S. licensing and said an Injective institution could be a clearinghouse for settlement.
Injective said it had tokenized more than $1 billion in assets. As of October 22, it had processed more than 3.13 billion transactions and permanently burned more than 7.27 million INJ through monthly token buybacks.
Two other INJ-linked ETF applications were proposed at the time: the 21Shares Injective ETF and the REX-Osprey INJ Staking ETF. Those applications were distinct from Canary’s launched fund.
The documented development was a new brokerage-accessible vehicle combining INJ exposure with a staking mechanism. The reported one-day token gain alone did not establish a broader market-cycle shift.
Original publication time: November 6, 2026, at 00:52:54 UTC+08:00 (November 5 at 16:52:54 UTC).
