Canary Capital, a firm focused on digital asset investments, has taken its first step towards launching a U.S.-based exchange-traded fund (ETF) tied to the Injective (INJ) token. The firm registered a trust named “Canary Staked INJ ETF” with the Delaware Division of Corporations on June 10th. This action, although not guaranteeing an ETF launch, is typically a precursor to filing for regulatory approval with the Securities and Exchange Commission (SEC). Several recent crypto ETF launches have followed this path, including those tracking Bitcoin and Ethereum. 21Shares, another asset manager, has already launched a similar product in Europe, offering an exchange-traded product (ETP) based on INJ and incorporating staking rewards.