Two Injective ETFs Advance as US Institutional Interest Grows

Two exchange-traded funds (ETFs) focused on the Injective (INJ) token have advanced in the U.S., signaling growing institutional interest. The 21Shares Injective ETF and the Canary Staked INJ ETF have both submitted updated filings to the Securities and Exchange Commission (SEC), outlining their plans.

The 21Shares ETF, set to trade on Nasdaq under the ticker TINJ, filed an amendment on September 18, 2026. This update expands on how the fund will hold INJ tokens directly and reserves the right to stake them at its discretion. The original registration was submitted in October 2025.

Meanwhile, Canary Capital’s staked INJ ETF, proposed to list on Cboe BZX under the ticker INJS, submitted Amendment No. 3 around September 25-28, 2026. This product aims to stake at least 90% of its holdings, with BitGo serving as the INJ custodian and CoinDesk providing the pricing benchmark. Traditional financial giants like BNY Mellon and US Bank are also involved as service providers.

The Injective blockchain has processed over 3 billion transactions, with 42 million occurring in the past month alone as of late September 2026. INJ is no stranger to regulated financial products, as a European ETF and U.S.-listed futures already exist. Additionally, Injective has registered with the SEC as a transfer agent for real-world assets (RWAs).

Canary’s commitment to staking introduces operational complexities, such as validator selection and custody arrangements. In contrast, 21Shares’ discretionary approach allows flexibility in response to changing regulations or market conditions.