Proposed ETF Could Bring Injective Token to Mainstream Brokerages
Injective’s native token, INJ, may soon trade under a ticker symbol familiar to traditional investors: INJC. Canary Capital is behind the proposed Staked INJ Exchange-Traded Fund (ETF), having submitted an amended registration statement to the U.S. Securities and Exchange Commission (SEC) on September 24, 2026. The fund aims to provide investors with exposure to INJ without the need for a cryptocurrency wallet, with plans to stake the majority of its holdings to generate additional yield.
Injective, a Layer 1 blockchain designed for finance and tokenization, is now part of a growing wave of digital asset-related ETF applications. The company’s CEO believes regulators might act more swiftly than the market anticipates.
The INJC ETF would directly hold INJ tokens, offering investors spot exposure to the asset’s price fluctuations. Furthermore, the fund’s structure is designed to stake approximately 90% of its assets. Staking involves locking up tokens to support the security of a blockchain network, with participants receiving rewards in return.
BitGo is slated to act as the custodian, responsible for holding the fund’s tokens. The ETF is intended for listing on the Cboe BZX exchange. An S-1 filing is the registration document companies or funds submit to the SEC before offering securities to the public. Amendments to these filings typically follow feedback or updates, suggesting the application process is progressing rather than stalled.
Canary Capital is not the sole entity pursuing an INJ-related ETF. At least three such applications are currently pending with the SEC. Alongside Canary’s INJC proposal, filings from 21Shares and REX-Osprey are also in review.
Injective CEO Eric Chen has indicated that the timeline for approval could be sooner than some expect. In an interview on October 5, 2026, he suggested that a 2027 launch for U.S. INJ-linked ETFs might be overly conservative. With multiple active applications underway, Chen posited that U.S. INJ ETFs could potentially launch before 2027.
In early October 2026, the Injective Foundation introduced its Trench Treasury program. This initiative aims to fund smaller projects being developed on the Injective blockchain and to reward community contributors. The initial funding round is targeting projects such as Sprout and RunUp.
The inclusion of staking within an ETF structure introduces a yield component, positioning it more as an income-generating investment rather than solely a bet on price appreciation. However, staked tokens can be less liquid, requiring a fund that stakes a significant portion of its holdings to manage redemptions carefully. Maintaining a portion of assets in an unstaked state is one method to address this.
If approved, the INJC ETF could attract investors who might otherwise avoid setting up cryptocurrency exchange accounts. The presence of three distinct INJ ETF applications suggests that issuers perceive significant investor demand.
Regulatory approval timelines can be subject to delays, and Chen’s projection of a pre-2027 launch remains an outlook, not a certainty. Staking also presents its own technical and liquidity considerations that traditional ETF investors may not be accustomed to evaluating.
Key developments to monitor include further amendments to Canary’s S-1 filing, any progress on the 21Shares and REX-Osprey proposals, and signals from the SEC regarding its comfort level with staking mechanisms within an exchange-traded fund structure. On the Injective ecosystem front, the progress of Sprout, RunUp, and other Trench Treasury recipients will be indicative of whether the blockchain’s on-chain activity can align with its ambitions in the traditional financial markets.
