Canary Capital filing shows plan for staked Injective ETF
Canary Capital has established a Delaware trust named “Canary Staked INJ ETF,” potentially indicating plans to launch an exchange-traded fund (ETF) for the Injective blockchain's native token, INJ. This trust formation is a common initial step for ETF issuers before filing with the Securities and Exchange Commission (SEC). While details on the planned INJ fund are not available, Canary Capital previously filed for an ETF to hold and stake Tron’s TRX token. The Injective token rose 3.7% following the trust announcement and has increased over 10.5% in the past week, coinciding with a rise in blockchain transactions and users. The SEC has expressed concerns regarding the legality of crypto staking ETFs, suggesting that current structures may not qualify as investment companies. Despite these concerns, analysts remain hopeful about resolving legal issues surrounding such funds.
