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The Coin Rise 2025-06-10 09:20:43

Canary Capital Moves Toward Potential Injective-Based ETF in the US

Canary Capital has taken its first official step toward launching a U.S.-based exchange-traded fund (ETF) centered on the Injective (INJ) token. A trust named “Canary Staked INJ ETF” was registered on June 10 with the Delaware Division of Corporations, a typical early move for firms looking to eventually list an ETF tied to a digital asset. While the creation of a Delaware trust does not guarantee an ETF launch, it is often the first step before firms file for regulatory approval with the Securities and Exchange Commission (SEC). Several recent crypto ETF launches have followed this path, including products tracking Bitcoin, Ethereum, and other blockchain tokens. There are no public details yet on the structure of the INJ ETF, but the move follows Canary Capital’s earlier filing in April for an ETF involving Tron (TRX) , which aimed to generate yield by staking the token. That structure would allow the fund to earn staking rewards while holding and locking a portion of the asset to help secure the blockchain. INJ Token Sees Boost Amid ETF Speculation News of the Delaware trust helped push the price of the INJ token up 3.7% in the last 24 hours, adding to a more than 10.5% gain over the past week. The token’s rally comes alongside a modest increase in user activity and transactions on the Injective blockchain, according to data from DappRadar. The Injective network positions itself as a layer-1 blockchain optimized for artificial intelligence agents and the tokenization of real-world assets, including traditional stocks. These sectors are gaining interest as the crypto industry continues to seek practical applications that go beyond speculative trading. Asset manager 21Shares has already launched a similar product in Europe, offering an exchange-traded product (ETP) that tracks INJ and incorporates staking rewards. Canary Capital’s move appears aimed at bringing a comparable product to U.S. markets. Regulatory Hurdles Remain for Staking-Based ETFs Despite growing interest, the SEC remains cautious about ETFs tied to staked cryptocurrencies . Last month, the regulator expressed concerns about similar proposals from REX Financial and Osprey Funds, suggesting they may not meet the legal criteria required to qualify as investment companies. Still, optimism remains. Bloomberg analyst Eric Balchunas noted that REX’s legal team believes the issue can be resolved, hinting that staking ETFs could eventually gain approval if structured properly. Canary Capital has not yet responded to requests for comment on its INJ trust filing. The post Canary Capital Moves Toward Potential Injective-Based ETF in the US appeared first on TheCoinrise.com .

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