Canary's $INJ staking ETF has received Nasdaq listing approval under the ticker INJC. The prospectus states that, under normal circumstances, at least 90% of INJ holdings must be staked.
According to the prospectus disclosed on November 4, BitGo is the custodian, and the annual management fee is 1.10%. Staking 90% of the holdings means that most of the INJ bought by the fund won't remain in circulation, which could have a real impact on supply—if the fund actually gets off the ground.
My take is that the significance of this news lies in the process, not the capital. Form 8-A12B is only a registration for listing; the shares still can't trade publicly until the S-1 registration statement becomes effective. Two things to watch next: when the S-1 becomes effective, and how much holders will have left after the staking yield is reduced by the 1.10% management fee.
#Injective #质押ETF #CryptoETF
According to the prospectus disclosed on November 4, BitGo is the custodian, and the annual management fee is 1.10%. Staking 90% of the holdings means that most of the INJ bought by the fund won't remain in circulation, which could have a real impact on supply—if the fund actually gets off the ground.
My take is that the significance of this news lies in the process, not the capital. Form 8-A12B is only a registration for listing; the shares still can't trade publicly until the S-1 registration statement becomes effective. Two things to watch next: when the S-1 becomes effective, and how much holders will have left after the staking yield is reduced by the 1.10% management fee.
#Injective #质押ETF #CryptoETF