Canary Capital’s Bold Leap into the ETF Jungle: Will It Fly or Flop?

In a move that can only be described as audacious, Canary Capital has taken the plunge into the murky waters of finance by registering a Delaware trust for a staked Injective ETF. Yes, you heard that right—a tradable INJ product in the U.S. is on the horizon, or at least that’s what they hope. 🦅

Behold the “Canary Staked INJ ETF,” a name that rolls off the tongue like a fine wine, now officially registered with the Delaware Division of Corporations. This trust is designed to offer staking-based returns linked to the Injective blockchain, which sounds impressive until you realize it’s just another way to say, “We’re trying to make money off your money.” 💸

Now, before you start throwing confetti, let’s be clear: this filing doesn’t guarantee that the fund will actually launch. It’s merely following the well-trodden path of many crypto ETF issuers, which is akin to following a herd of sheep into a field of questionable investments. 🐑

Meanwhile, across the pond in Europe, a similar INJ product is already strutting its stuff, courtesy of asset manager 21Shares, which offers an Injective ETP that captures staking yield. Because why not? If it works there, surely it will work here—right? 🤷‍♂️

This latest endeavor follows Canary’s earlier attempt to launch a Staked Cronos (CRO) ETF back in May, which aims to give investors access to Cronos tokens and their associated staking yields. And let’s not forget the firm is still waiting with bated breath for a decision from the U.S. Securities and Exchange Commission regarding its proposed spot Sui (SUI) ETF. Talk about a nail-biter! ⏳

But wait, there’s more! Canary Capital has also registered a Delaware trust for a Staked Sei (SEI) ETF, marking yet another initial step toward launching a product that promises to offer investors exposure to SEI token staking rewards. Just days prior, they submitted a Form S-1 for a Staked Tron (TRX) ETF, because why not throw in a few more acronyms for good measure? 📈

And if you thought that was the end of it, think again! Canary has proposals for ETFs tied to Solana (SOL), Axelar (AXL), and Ripple (XRP), and they’ve even submitted a unique filing for an ETF tracking the Pudgy Penguins (PENGU) ecosystem. Yes, you read that correctly—Pudgy Penguins! Because who wouldn’t want to invest in adorable cartoon characters while hoping to strike it rich? 🐧💰

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2025-06-10 10:49