Nasdaq approves Canary Capital's staked Injective ETF under ticker INJC as INJ jumps
Nasdaq has approved the listing of Canary Capital's Staked Injective ETF, the first US-listed staked product for INJ, with trading to begin once its S-1 registration becomes effective.
Nasdaq has approved the listing of Canary Capital's Staked Injective ETF, the first United States-listed exchange-traded fund built around Injective's native token, INJ, in a decision that sent the token sharply higher and added another name to the fast-growing list of crypto funds reaching American exchanges.
Injective announced the approval on Thursday, 5 November 2026, saying the fund will trade under the ticker INJC. Canary Capital confirmed the step in a Form 8-A filed with the US Securities and Exchange Commission on 3 November, which registers the fund's shares for listing on Nasdaq. The approval covers the exchange listing only; public trading cannot begin until the fund's separate S-1 registration statement becomes effective with the SEC.
The product is designed to hold spot INJ and to stake at least 90 percent of its holdings under normal conditions, passing staking rewards back into the fund. Staking means committing tokens to help secure the Injective blockchain in exchange for additional tokens, so the fund aims to give investors both price exposure to INJ and a yield from the network itself, all through an ordinary brokerage account rather than a crypto wallet.
Canary's filings put the annual sponsor fee at 1.10 percent of the fund's INJ holdings. The prospectus also expects about 30 percent of gross staking rewards to go to fees shared by the sponsor, the staking provider and the custodian, on top of the sponsor fee. BitGo Bank and Trust will hold the INJ, Luganodes will run the staking, and US Bank will keep the fund's cash. The prospectus describes a 21-day unbonding period for withdrawing delegated tokens.
The Injective Foundation has indicated plans to buy up to 15 million dollars' worth of seed shares in the fund, according to the prospectus, a signal of the project's own backing for the launch. No date for the first trading session has been given, and the filing provides no evidence yet of subscriptions or institutional inflows.
INJ reacted strongly to the news. The token rose around 6 percent from midnight UTC on Thursday to trade near 7.92 dollars, and was up about 10 percent over 24 hours, according to CoinDesk data. Other reports put it near 8.30 dollars, roughly 22 percent above its 6.82-dollar low on 3 November. It led the CoinDesk 100 gainers on the day.
The approval arrives in the middle of a broad crypto rebound. Bitcoin held above 80,000 dollars on Thursday after reclaiming the level in the wake of the US midterm elections, ether traded near 2,425 dollars, and Zcash jumped more than 11 percent ahead of its NU7 network upgrade. US spot bitcoin ETFs took in about 75 million dollars on Wednesday, ending a three-day outflow streak, while ether ETFs drew about 53 million dollars.
There is one detail investors should watch. Canary's original September filing named Cboe BZX as the proposed exchange and INJS as the ticker, rather than Nasdaq and INJC, and CoinDesk noted that an updated filing would be needed to confirm those changes. The November Form 8-A, however, records Nasdaq's approval of the listing application under the INJC ticker, and the fund's product page now lists 4 November 2026 as its inception date.
The Injective fund follows a wider wave of single-asset crypto ETFs reaching US markets. Bitwise's NEAR ETF, trading under the ticker NRR, began trading on NYSE Arca on 29 September 2026, and a string of other altcoin funds have filed or listed this year as regulators have grown more willing to approve products beyond bitcoin and ether. A staked ETF adds a further layer, because it turns the fund itself into a participant in the network it tracks.
For Injective, a layer-one blockchain built for decentralised finance, the listing is a step towards mainstream investor access. Until now, US investors wanting exposure to INJ had to buy the token on a crypto exchange and manage custody themselves. An ETF wrapper removes that friction, though it also adds fees and leaves investors without direct control of the underlying tokens.
What happens next depends on the SEC. Once the S-1 becomes effective, INJC can begin trading, and the market will get its first read on real demand for a staked Injective product. Traders will also watch whether the fund's staking yield, after fees, proves attractive enough to draw flows, and whether other staked altcoin ETFs follow the same path through Nasdaq and its rivals.
Figures in this report were checked at 22:50 PKT on 5 November 2026.
This post is market news information only, not financial advice.
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