Nasdaq Approves Canary Staked INJ ETF Listing
Nasdaq has approved the listing application for Canary Capital’s Canary Staked INJ ETF, which will trade under the ticker INJC. The fund filed a Form 8-A12B registration with the US Securities and Exchange Commission. It plans to stake at least 90% of its INJ holdings under normal conditions, with BitGo serving as custodian. The INJ ETF cannot begin public trading until its S-1 registration statement becomes effective. The approval is a step towards a US-listed investment product offering exposure to INJ and staking rewards, but the pending registration means trading has not yet begun.
Neutral
The Nasdaq approval is a positive development for access to INJ, but it does not yet authorize public trading: the fund’s S-1 registration statement must become effective first. As a result, the immediate market impact may be limited, with traders more likely to monitor regulatory filings, the launch timeline and INJ trading volume than to treat the approval as a confirmed source of new demand. Similar crypto ETF milestones have sometimes driven short-term speculation, but announcements do not guarantee meaningful inflows or sustained price gains. If the fund launches and attracts assets, staking at least 90% of its INJ holdings could add an institutional access channel and support longer-term interest. However, staking does not remove token-price volatility, and the article provides no expected fund size or demand estimates. The balance of a favorable access signal against the unresolved launch condition supports a neutral classification.