$INJ Token Surges on Canary Capital #ETF Trust Filing


$INJ gained 3.7% over 24 hours after fund manager Canary Capital created a Delaware trust for a "Canary Staked INJ ETF" on Monday.


The trust formation represents the typical first step toward launching an exchange-traded fund, though it doesn't guarantee #SEC approval.


Canary's proposed fund would offer staking exposure to the Injective token, similar to the company's April filing for a staked $TRX #ETF.

21Shares already operates an Injective exchange-traded product in Europe that tracks $INJ and captures staking yield for reinvestment.


The #SEC has raised concerns about crypto-staking #ETF structures, telling fund issuers last month their current proposals might not meet investment company definitions.

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June 10, 2025 at 1:25 PM
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