# Canary’s Proposed Staked INJ ETF Shifts to Nasdaq Under INJC By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/45113 Published: 2026-10-30T20:53:57.000Z Updated: 2026-10-30T20:53:57.000Z Section: Investing > The Oct. 23 amendment replaces Cboe BZX as the proposed venue, while the registration statement remains pre-effective and no trading date has been set. Canary Capital’s Oct. 23 amendment for its proposed Staked INJ ETF names The Nasdaq Stock Market LLC as its proposed listing venue and INJC as its ticker, replacing Cboe BZX in the previous amendment. The Nasdaq listing is subject to notice of issuance. The registration statement remains pre-effective, so shares cannot be sold until it becomes effective. No trading date has been set. Cboe BZX’s earlier rule-change request for the trust was withdrawn March 9, 2026. The trust would seek exposure to the price of Injective (INJ) it holds, less operating expenses and other liabilities. Staking would be a secondary objective. Canary anticipates staking at least 90% of its INJ under normal conditions but may reserve tokens for redemptions, expenses or other protections. The trust’s [staking and redemption terms]() include a 21-day unbonding period after INJ is undelegated. Tokens in that period cannot be transferred or earn rewards. Third-party service providers would handle delegation, while the custodian would control private keys; the trust would not run its own validator. As of Sept. 15, Injective’s network parameters set forfeiture at zero for downtime and double-signing. Network governance can change those settings. Canary proposes an annual sponsor fee of 1.10% of the trust’s defined “INJ Holdings,” which includes cash or other assets represented in INJ, less liabilities. The sponsor, staking provider and custodian are expected to share fees equal to 30% of staking rewards, leaving 70% for the trust; the fees are capped at 30%. Remaining rewards would generally be restaked or used for redemptions and expenses; the trust does not anticipate cash distributions to shareholders. Injective Foundation has indicated an intent to purchase up to $15 million in shares at $25 per share. The proposed purchase would be paid in INJ, valued at the benchmark price on the purchase date. A separate 21Shares Injective ETF proposal also contemplates staking. Its sponsor generally intends to stake 40% to 60% of the trust’s INJ, subject to its discretion and legal or regulatory considerations. Neither proposal establishes that an ETF has been approved or launched. The trust would not be registered under the Investment Company Act of 1940, so shareholders would not receive protections that law provides to registered funds. ## Links in this article - [staking and redemption terms](https://www.tokenpost.com/news/investing/38132)