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Injective ETF momentum builds as two US applications advance
Two US fund applications tied to the INJ token have moved forward with fresh SEC amendments, one of them built around staking
Two applications are carrying ETF expectations for the INJ token: the 21Shares Injective ETF and the Canary Staked INJ ETF. Both have recently been updated with fresh filings at the Securities and Exchange Commission.
Two funds, two different pitches
On September 18, 2026, 21Shares filed S-1 Amendment No. 1 for its spot Injective ETF. The fund is slated to trade on Nasdaq under the ticker TINJ.
That amendment revises the original registration statement 21Shares submitted in October 2025. It expands on how the fund plans to hold INJ directly and explains how the issuer would keep discretion over whether to stake those tokens.
Canary Capital submitted Amendment No. 3 for its staked INJ ETF around September 25-28, 2026. That product is proposed to list on Cboe BZX under the ticker INJS.
Canary’s filing targets staking at least 90% of the fund’s holdings. BitGo is named as the INJ custodian, and CoinDesk is set to provide the pricing benchmark.
The filings also name traditional custody and banking providers. BitGo appears alongside BNY Mellon and US Bank as service providers across the documents.
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Why Injective, and why now
The chain has processed more than 3 billion total transactions. Roughly 42 million of those came in the past month, as of late September 2026.
INJ is also not new to regulated wrappers. A European exchange-traded product tied to INJ already exists. US-listed INJ futures are available too.
Injective has registered with the SEC as a transfer agent for RWAs.
The staking question
Canary’s structure commits at least 90% of holdings to staking, meaning the fund’s appeal depends heavily on those rewards. It also means the fund carries the operational complexity of staking, from validator selection to custody arrangements.
21Shares is keeping discretionary staking as an option rather than committing to it, letting the issuer adapt if rules, market conditions or operational risks shift.