I do the same, except occasionally they get to be taken out of a dry wooden box that somehow could keep them alive and moved to I imagine much nicer place of a fish pond.
In terms of your fish "collection" page, do you now have credit for the Octopus? If not, what if you put it in a fish tank and then fish it out of there? That to me seems like it would be the main purpose, to fill out your collection if you can't catch the fish the "normal" way. The Octopus is after all tougher than some of the legendary fish imho.
In my newer save, I didn't get any octopus from the night market fishing in year 1, so I bought one from the traveling cart to put in a pond. Later I can pull one out to make targeted bait to catch one for real.
You can let it infinitely take up space in your inventory, always a good option. You never know what when you might be in a difficult situation where the only solution is an octopus.