Nasdaq bell-ringing, flowers scattered in the square, official accounts reposting—the moment Canary’s INJC arrived, it was being hailed as “the first spot INJ ETF with staking.”
The filings are much more matter-of-fact: at least 90% of the holdings must be staked, BitGo is the custodian, the annual fee is 1.10%, and the staking provider can take up to 30% of the rewards. So much for earning staking rewards through a brokerage account—the rewards are subject to two cuts along the way.
INJ rose about 26% around November 3. The fanfare and price jump have drawn more attention than the product itself. Ringing the bell doesn’t mean net institutional inflows—don’t mistake the story for AUM.
#INJ #ETF
The filings are much more matter-of-fact: at least 90% of the holdings must be staked, BitGo is the custodian, the annual fee is 1.10%, and the staking provider can take up to 30% of the rewards. So much for earning staking rewards through a brokerage account—the rewards are subject to two cuts along the way.
INJ rose about 26% around November 3. The fanfare and price jump have drawn more attention than the product itself. Ringing the bell doesn’t mean net institutional inflows—don’t mistake the story for AUM.
#INJ #ETF
