Canary Staking INJ ETF starts trading on Nasdaq

According to The Defiant, the staking INJ ETF under Canary Capital began trading on Nasdaq on November 5, with the trading code INJC. The fund directly holds INJ, which is custodied by BitGo.

The fund's securities registration statement became effective on November 4. The final prospectus is expected to use at least 90% of the INJ held by the fund for staking under normal circumstances.

The fund charges an annual sponsor fee of 1.10%, and it is also expected to deduct 30% from staking rewards as staking fees, with the remaining 70% belonging to the fund, which will then also bear sponsor fees and other expenses. Rewards are typically restaked and included in the daily net asset value, rather than being paid directly to investors.