Injective ETF with staking advances after new SEC filing.

• Canary re-introduces S-1 for ETF Injective with staking.
• ETF seeks INJ spot price and on-chain yield.
• BitGo assumes custody and Cboe BZX plans listing.

Canary Capital has taken another step in the regulatory process for its Injective ETF by resubmitting its S-1 form to the U.S. Securities and Exchange Commission (SEC). The updated version of the document details the structure of an exchange-traded fund that combines exposure to the spot price of the INJ token with income generation through staking.

According to the filing, the primary objective of the ETF is to track the spot price of Injective, while the secondary objective involves delegating the fund's tokens to staking providers to obtain additional yield. The proposal reflects a model that seeks to combine direct exposure to the asset with on-chain strategies, within a regulated traditional market framework.

The document indicates that BitGo will be responsible for the custody of the ETF's assets. US Bancorp Fund Services has been designated as administrator, transfer agent, and cash custodian. Although the form confirms that all tokens in the fund can be staked, the specific providers have not yet been disclosed.

According to the amended S-1 filing, the trust fund will hold Injective tokens and calculate its net asset value based on the CoinDesk Injective USD CCIXber 60m New York Rate benchmark rate. This metric is calculated from a 60-minute weighted average of the INJ-USD price, providing a standardized basis for ETF pricing.

Canary Capital also reported that ETF units will be created and redeemed in blocks of 10.000 shares. Parallel Distributors LLC was listed as the marketing agent, while the Cboe BZX Exchange appears as the planned location for listing and trading the product. To date, the issuer has not disclosed the management fee or the trading code for the ETF.

Prior to this resubmission, Canary had already registered a statutory trust fund in Delaware as part of the legal structure of the Injective ETF. Market analysts believe that further amendments to the S-1 form may still be filed in the coming weeks, bringing additional adjustments required by the regulatory process.

In the market, the Injective token showed a moderate recovery from recent lows, despite a broader selling pressure environment. Derivatives data indicate that total open interest in INJ futures contracts has decreased over the past 24 hours, while short-term positions have slightly increased on some platforms, signaling tactical activity from traders in the short term.