Nasdaq has approved the listing of Canary Capital’s Staked INJ ETF, but that approval is not the same as shares already trading. The trust’s Form 8-A filing says Nasdaq approved the shares for listing, and Nasdaq Trader later said the fund would begin listing on Thursday, November 5, under ticker INJC. So the venue is set; actual trading begins when the shares go live.
This is a single-asset product with a different design from a plain spot fund. Canary’s filings say the trust is meant to hold INJ directly, track its price as its primary objective, and earn additional INJ by staking. Under normal circumstances, the sponsor expects to stake nearly all the holdings, keeping some back for redemptions, expenses and operations. Staking locks tokens to support network validation in exchange for rewards.
That makes the wrapper potentially deliver more than price exposure: rewards become part of the fund’s return profile, while custody and the amount of INJ freely available to trade also matter. It is a market-structure step for packaging a proof-of-stake asset inside a conventional exchange-traded product.
INJ rose about 10.1% in 24 hours to $8.44 after the listing news. That move is the market’s immediate response, not evidence of demand for the fund once it opens; that question remains unanswered until trading begins.