Injective (INJ)

Goodnews: Canary Updates Its Staked $INJ ETF Filing

Here are the 5 biggest updates, explained simply:

⤷ It will trade under the ticker $INJS on Cboe BZX:

For those that don't know, Cboe BZX is a U.S. stock exchange where ETFs are listed and traded, similar to the NYSE or Nasdaq.

When Injective ETF gets approved, investors will be able to buy and sell the ETF on a stock exchange using the ticker INJS, just like buying any other ETF.

⤷ The fund will stake almost all of its $INJ:

So Instead of just holding the tokens, the ETF will stake most of them to earn rewards

Those rewards will be automatically added back into the fund, and the fund will publish its staking percentage onchain every trading day.

⤷ Staking fees are capped at 10% of the rewards:

The company managing the staking can only take up to 10% of the staking rewards as a fee

The rest stays in the fund for investors.

⤷ BitGo Trust will custody the Injective:

BitGo Trust is responsible for securely storing the ETF's Injective, helping kee

Goodnews: Canary Updates Its Staked $INJ ETF Filing

Here are the 5 biggest updates, explained simply:

⤷ It will trade under the ticker $INJS on Cboe BZX:

For those that don't know, Cboe BZX is a U.S. stock exchange where ETFs are listed and traded, similar to the NYSE or Nasdaq.

When Injective ETF gets approved, investors will be able to buy and sell the ETF on a stock exchange using the ticker INJS, just like buying any other ETF.

⤷ The fund will stake almost all of its $INJ:

So Instead of just holding the tokens, the ETF will stake most of them to earn rewards

Those rewards will be automatically added back into the fund, and the fund will publish its staking percentage onchain every trading day.

⤷ Staking fees are capped at 10% of the rewards:

The company managing the staking can only take up to 10% of the staking rewards as a fee

The rest stays in the fund for investors.

⤷ BitGo Trust will custody the Injective:

BitGo Trust is responsible for securely storing the ETF's Injective, helping kee

🚨 JUST IN: @CanaryFunds just amended its S-1 for the Staked $INJ ETF.

The five biggest changes:

👉️ The fund is set to list on Cboe BZX under the ticker INJS.

👉️ The amendment commits to staking substantially all of its holdings, restaking the rewards back into daily NAV, and posting the staked percentage onchain every trading day.

👉️ Staking fees capped at 10% of rewards.

👉️ @BitGo Trust holds the INJ as key custodian.

👉️ NAV references the CoinDesk Injective USD CCIXber 60m New York Rate, struck at 4pm ET.

The blanks are filling fast. Tick Tock ⏳️