Canary Capital takes first steps for staked INJ ETF with Delaware trust filing
The Injective Overview - June 16, 2025
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Injective By the Numbers
$INJ price: $11.83 (-0.17%)
Token market cap: $1.16B (-0.35%)
Total $INJ staked: 57.01M
Staking APR: 12.19%
The percentages and metrics are calculated from its change over a 14-day time frame, unless noted otherwise.
Injecting in the biggest developments
Highlighting some of the largest announcements from Injective.
🥷What’s happening: Canary Capital, a crypto-focused fund manager, filed for a trust in Delaware on Monday. This marks the first step toward a possible filing for a staked Injective token ETF through the fund.
🥷Why it matters: There’s been a broader trend of asset managers exploring crypto-based ETFs ever since the first bitcoin spot ETF in the US was approved in January 2024. This trust filing is an initial step toward creating a regulated investment vehicle for the Injective token, INJ.
While the trust application is pending in Delaware, the filing acts as a voice of recognition that DeFi, specifically Injective, is something this fund manager is keeping an eye on.
If the trust filing gets approved, the opportunity for an ETF becomes more promising. It could also enhance INJ’s visibility and liquidity to a traditional investor. In addition, since it's a staking ETF, it incentivizes long-term holding because of the compounded rewards generated from staking.
For retail investors, an ETF offers an accessible entry point to the Injective ecosystem. Unlike direct crypto ownership, which demands some degree of technical know-how and navigating unregulated platforms, an ETF provides exposure with reduced technical barriers and custodial risks. The inclusion of staking rewards further enhances the value proposition, allowing retail investors to gain staking exposure, without the complexity of staking tokens themselves.
🥷 The bigger picture: This trust filing aligns with a broader trend of increasing institutional adoption of crypto. But with these entrants comes demand for compliant, accessible investment structures.
While the US is getting its feet wet with ETFs, it’s not the only region developing on this front. In July 2024, 21Shares launched an Injective exchange-traded product (ETP) in Europe on Euronext exchange, tracking the INJ token and offering staking rewards, too. Similarly, Valour introduced its Injective SEK ETP, providing another secure, regulated way for investors to gain exposure to Injective’s ecosystem. With 21Shares Injective ETP having nearly $2.5 million in assets under management and Valour with $3.15 million, the data shows there is demand for an Injective ETF.
An INJ ETF could instill greater confidence among risk-averse investors, making Injective’s DeFi ecosystem more approachable for user adoption. And it’s not just everyday crypto investors taking notice, Wall Street is watching, too.
Expanding its financial ecosystem
Updates on the latest network of dApps, validators, builders and more helping Injective expand its financial use cases.
Injective deployed West Texas Intermediate (WTI) and Circle’s new stock (CRCL) to the iAssets framework for onchain perp trading
The network completed Round #205 of its burn auction with 8,800 INJ token being removed from supply
Choice launched its liquidity DEX aggregator to the Injective network
BitGo, an infrastructure provider of digital asset solutions and institutional staking, joined the Injective network as a validator
QuickNode added support for Injective to provide developers web3 APIs and RPC nodes
Explore Injective’s institutional overview here
From the Injective ninjas 🥷
Highlighting the builders, communities and ecosystem players within the Injective blockchain.
Learn about Injective's native EVM and how to deploy a multichain token in a video featuring Injective Chain Team Lead Max Kupriianov
Degen Arena launched its Injective-powered Telegram social trading app
Injective collaborated with Kaito to reward creators for making content on X
Hydro Protocol shared it reached 20M HDRO tokens supplied to its Money Market protocol
For more Injective updates, check out its blog here.
Dive deeper into Injective
Want to get involved in the ecosystem? Developers can check out documentation, GitHub and more here. Find the latest job postings here or get involved at an event below.
HackQuest released an Injective Learning Track, covering 101 network info and developer tools and resources
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.