Canary continues altcoin ETF strategy with application to launch Injective fund with sataking

Canary Capital has filed with the U.S. Securities and Exchange Commission to launch the first-ever staked Injective (INJ) exchange-traded fund, aiming to provide institutional investors with regulated access to native on-chain yield.

The proposed Canary Staked INJ ETF would actively stake its INJ holdings on the Injective proof-of-stake network, passing staking rewards, currently estimated at 10% to 12% annually, directly to shareholders.

It also signals growing market confidence in Injective’s ecosystem, which has attracted strategic backing from firms like Google Cloud and T-Mobile.

Injective Labs is also actively engaged in ongoing discussions with U.S. regulators to define compliant pathways for decentralized finance.

Broader ETF strategy

The INJ ETF is part of a larger push by Canary Capital, a firm led by former Valkyrie CIO Steven McClurg, to bring high-yield digital assets into traditional market structures.

Canary has already filed for ETFs tied to Solana, XRP, Hedera, Sui, and the Pudgy Penguins NFT project. Several of these applications include staking components, such as its Marinade-powered Solana ETF, positioning the firm as a leader in staking-integrated investment products.

Canary established a Delaware statutory trust to support the INJ fund, mirroring its previous filings and signaling intent to meet the SEC’s evolving expectations around custodianship, validator selection, and yield treatment.

The proposal lands during Crypto Week 2025, as lawmakers debate multiple bills that could define the legal framework for staking and other crypto-native activities. With SEC leadership now more open to structured yield products, Canary’s timing reflects a calculated bet on a regulatory shift.

Several issuers are looking to include staking in upcoming ETFs. Some have also filed to activate staking for spot Ethereum ETFs that are already live, including BlackRock.

The post Canary continues altcoin ETF strategy with application to launch Injective fund with sataking appeared first on CryptoSlate.

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