Injective CEO Sees Spot INJ ETF Launch Before 2027
Injective co-founder and CEO Eric Chen anticipates that a spot INJ exchange-traded fund (ETF) could launch in the United States before 2027. While Chen declined to provide an exact timeline, he emphasized that the progress is accelerating faster than expected. "I can't give an exact date, but 2027 feels a little too far out. It's actually moving much faster than I expected, so we'll have to wait and see," he said in an interview with The Block.
Two applications for INJ-related ETFs are currently under review by the US Securities and Exchange Commission (SEC). One is the Injective ETF filed by 21Shares, which resubmitted its amended S-1 registration statement in September. The other is the Canary Staked INJ ETF, which includes staking functionality and was first filed last year. 21Shares plans to list its ETF on Nasdaq if approved.
Injective is expanding its institutional presence in the US, with its institutional services arm, Injective Institutional Services, recently obtaining SEC registration as a transfer agent. Chen noted that this is just the beginning and that the company plans to pursue additional licenses. Additionally, the "Meridian" upgrade was applied last month, enabling institutions to transition on-chain tokenization, asset issuance, and collateral utilization from testing to production.
In Europe, Injective has completed the notification and publication process for its INJ token technical documentation under the EU's Markets in Crypto-Assets (MiCA) regulation. The company is now listed on the European Securities and Markets Authority's (ESMA) provisional register, marking a step toward trading INJ in the EU. However, Chen noted that the regional licensing process is moving slowly, and Injective is already collaborating with licensed financial institutions in payments and tokenization.
If an INJ ETF is approved, it could further broaden the altcoin ETF market in the US, following the launch of spot Bitcoin and Ethereum ETFs and other altcoin ETFs like XRP. However, SEC approval and timing remain uncertain, and ETFs with staking functionality may face more rigorous regulatory scrutiny.