Canary has filed a first amendment to its S-1 registration statement for a proposed staked Injective (INJ) exchange-traded fund, according to a recent filing with the U.S. Securities and Exchange Commission.
If approved, the product would offer U.S. investors exposure to the spot price of Injective while also generating additional returns through on-chain staking.
Under the amended filing, the trust plans to list its shares on Cboe, pending regulatory clearance. The ETF’s primary objective is to track the spot price of Injective (INJ), while a secondary objective is to earn yield by staking the tokens held by the trust.
The filing outlines key service providers for the product. BitGo Trust Company has been selected as custodian, responsible for safeguarding the ETF’s digital assets. U.S. Bancorp Fund Services will act as administrator, transfer agent, and cash custodian.
While the amendment confirms that all INJ tokens held by the trust are expected to be staked, Canary did not disclose the specific staking providers it plans to use, noting only that staking will be conducted through one or more providers.
Pricing and valuation details were also clarified in the updated submission. The trust intends to calculate its net asset value using the CoinDesk Injective USD CCIXber 60-minute New York Rate, a benchmark produced by CoinDesk Indices.
The index is based on a 60-minute time-weighted average price of the INJ-USD CCIXber reference rate, providing a standardized pricing mechanism for the ETF.
Notably, the amended filing does not yet disclose the fund’s management fee or proposed ticker symbol. These details are often finalized later in the approval process.
If approved, the staked INJ ETF would represent another step in the expansion of crypto-linked investment products in the U.S., combining direct token price exposure with yield generation through staking, a structure increasingly watched by both investors and regulators.