Canary Capital is preparing an INJ stake ETF, and the INJ price has risen by 3.7%.

According to reports, fund manager Canary Capital has set up a trust fund in Delaware called “Canary Staked INJ ETF” to launch a fund based on Injective token staking. This move is the first step in the launch of an ETF and usually takes place before further filings with the Securities and Exchange Commission (SEC). Injective’s native token, INJ, is up 3.7% over the past 24 hours, showing a positive market reaction to the news.