Canary refiles S-1 for a staked Injective ETF, detailing custodians, staking plan, and Cboe BZX listing as INJ price and derivatives markets show mixed signals.
Summary
- Canary’s updated S-1 outlines a staked Injective ETF that tracks spot INJ while delegating tokens to staking providers to generate additional yield.
- BitGo is named custodian, U.S. Bancorp Fund Services will administer and handle cash, and the ETF plans 10,000-share creation/redemption blocks on Cboe BZX.
- INJ spot price shows modest recovery from recent lows while overall futures open interest has eased, even as short‑term derivatives activity ticks higher.
Canary Capital has filed an amended S-1 registration statement with the U.S. Securities and Exchange Commission for its proposed staked Injective exchange-traded fund, according to regulatory documents.
Canary Capital files updated S-1
The updated filing includes details on the price index, custodians, and share distribution plan for the ETF. The trust’s primary investment objective is to provide exposure to the spot Injective price, while the secondary objective is to generate yield through participation in a staking program, according to the SEC submission.
BitGo will serve as the custodian of the exchange-traded fund, the filing stated. U.S. Bancorp Fund Services is named as administrator, transfer agent, and cash custodian for the trust. The filing indicated the ETF plans to stake all of the trust’s tokens through one or more staking providers, though specific staking providers were not identified.
The issuer has not disclosed the management fee or ticker symbol for the ETF in the current filing.
According to the amended S-1, the trust will hold Injective tokens and establish its net asset value with reference to the CoinDesk Injective USD CCIXber 60m New York Rate pricing benchmark. CoinDesk Indices calculates this benchmark based on a 60-minute time-weighted average price of the INJ-USD CCIXber Reference Rate, the filing stated.
The issuer will sell or redeem ETF shares in blocks of 10,000, according to the document. The filing also disclosed Paralel Distributors LLC as marketing agent. The ETF plans to list and trade on Cboe BZX Exchange, offering exposure to the spot Injective price along with additional earnings through its staking program.
Canary Capital previously registered a statutory trust for the proposed staked Injective ETF in Delaware. Additional S-1 amendments are expected in the coming weeks to reveal further details, according to market observers.
The Injective token traded at levels showing a slight recovery from recent lows despite broader market selling pressure, according to market data. Trading volume increased modestly in recent hours.
Derivative market data showed total futures open interest for Injective declined over the past 24 hours, while shorter-term futures open interest on several major exchanges increased, according to trading platform data.
