Nasdaq Approves Listing for Canary's Staked Injective ETF

Nasdaq approved the listing of Canary's staked Injective exchange-traded fund, according to reporting from The Defiant on Nov. 4 ¹. The exchange operator cleared the listing application for the vehicle, which is designated under the ticker INJC ¹.

Under the proposed fund architecture, INJC is slated to stake at least 90% of its native $INJ holdings ¹. In exchange for managing the vehicle and staking operations, the fund will charge investors an annual sponsor fee of 1.10% ¹. The product focuses directly on the Injective Protocol network, utilizing staking mechanisms to generate protocol yield directly alongside fund management ¹.

Exchange Expansion

The move marks an expansion of exchange listings tied to staking-focused digital asset funds, bringing alternative Layer-1 protocol staking into structured exchange products ¹. Staking vehicles typically require distinct operational designs compared to traditional spot exchange-traded products, particularly due to the mechanics of locking underlying tokens and managing validator distributions on networks like Injective ¹.

Nasdaq did not disclose an official launch date or a timeline for secondary market trading in the announcement details ¹. Canary has not detailed further custody or specific staking validator allocations for the INJC vehicle ¹.