Canary Capital has launched an exchange-traded fund (ETF) for Injective's INJ token, giving investors exposure to the cryptocurrency through traditional brokerage accounts while offering potential staking rewards.
Meeting Demand for Specialized Networks
The Canary Staked INJ ETF expands Canary Capital's digital asset offerings, which include the Canary XRP ETF and Canary HBAR ETF. CEO Steven McClurg said the launch reflects growing institutional interest in products that combine price exposure with staking rewards.
"The Canary Staked INJ ETF gives investors access to a blockchain purpose-built for finance through a familiar exchange-traded structure, while also enabling investors to benefit from potential staking rewards," McClurg said.
He added that investors are increasingly looking beyond established cryptocurrencies toward specialized blockchain networks supporting emerging financial applications, including tokenization, trading, and decentralized markets.
Injective Network Metrics
According to a press release, Injective has tokenized more than $1 billion in assets. As of Oct. 22, the network had processed over 3.13 billion transactions and permanently burned more than 7.27 million INJ, valued at approximately $58 million, through its token buyback mechanisms.
Data from analytics platform Token Terminal showed approximately 257,300 monthly active addresses on Injective as of October.
INJ was recently up about 5% at $8.23, extending its weekly gain to 10%, amid the ETF launch and a broader crypto market decline. Bitcoin was down about 5% on the day at a price above $76,000.
Bridging Traditional Finance and Onchain Markets
Injective has introduced upgrades aimed at expanding institutional adoption, including Injective Mint, which enables institutions to issue and manage tokenized assets with customizable ownership and transfer restrictions. Another initiative, CypherOS, provides privacy-focused infrastructure for confidential trading, transactions, and asset tokenization.
More than $25 million in native USDC stablecoins had been issued on Injective as of October, supporting payment and settlement activities across the network.
Eric Chen, co-founder of the Injective Foundation, said the ETF would make INJ accessible to a broader investor base without requiring direct interaction with cryptocurrency exchanges or blockchain wallets.
"Investors can now gain exposure to INJ through the brokerage accounts they already use," Chen said. "We built Injective to bring financial markets onchain. Canary's launch connects that mission to a broader base of investors, giving them a familiar way to access the asset that powers Injective."
