A few days ago, I said that @injective had published four consecutive educational posts about ETFs, seemingly to prepare the market for how to understand INJC.
Now we have the answer.
Nasdaq has officially approved the listing application for the Canary Staked INJ ETF, which will trade under the ticker INJC.
Note: Approval of the listing application does not mean trading has begun.
As of now, the S-1 registration statement is still pending effectiveness. Next, we’ll have to wait for the registration to become effective and for an official listing announcement.
The biggest difference between this ETF and a typical crypto ETF is that it doesn’t just hold $INJ .
According to the filing, the fund plans to stake at least 90% of its INJ, with staking rewards also accruing to the fund’s net asset value.
Put simply:
Previously, U.S. stock market investors who wanted to buy INJ had to sign up with an exchange, deposit funds, buy the token, and figure out staking for themselves.
Once INJC officially launches, they’ll be able to get exposure to INJ’s price directly through their brokerage accounts, while also receiving some staking rewards.
Of course, buying INJC is not the same as directly holding INJ.
You’re buying ETF shares, which don’t come with on-chain governance rights, and staking rewards will be reduced by applicable fees.
Now we have the answer.
Nasdaq has officially approved the listing application for the Canary Staked INJ ETF, which will trade under the ticker INJC.
Note: Approval of the listing application does not mean trading has begun.
As of now, the S-1 registration statement is still pending effectiveness. Next, we’ll have to wait for the registration to become effective and for an official listing announcement.
The biggest difference between this ETF and a typical crypto ETF is that it doesn’t just hold $INJ .
According to the filing, the fund plans to stake at least 90% of its INJ, with staking rewards also accruing to the fund’s net asset value.
Put simply:
Previously, U.S. stock market investors who wanted to buy INJ had to sign up with an exchange, deposit funds, buy the token, and figure out staking for themselves.
Once INJC officially launches, they’ll be able to get exposure to INJ’s price directly through their brokerage accounts, while also receiving some staking rewards.
Of course, buying INJC is not the same as directly holding INJ.
You’re buying ETF shares, which don’t come with on-chain governance rights, and staking rewards will be reduced by applicable fees.
