- 21Shares has filed for a new spot Injective (INJ) ETF with the U.S. Securities and Exchange Commission.
- The ETF issuer submitted the application on October 20, 2025, making Injective one of the altcoins with multiple ETF applications pending before the SEC.
- INJ trades around $8.75 as cryptocurrencies look to bounce from recent lows amid growing ETF-driven optimism.
21Shares, a prominent issuer of cryptocurrency exchange-traded products, has filed for a spot exchange-traded fund (ETF) focused on Injective’s native token, INJ. The filing adds Injective to a growing list of digital assets seeking formal ETF listings in the United States.
Following the filing, INJ registered a modest price uptick, with buyers keeping the token above the $8.00 level as market participants parsed the implications of the new proposal.
21Shares files for a new Injective spot ETF
Injective’s official X account announced that 21Shares submitted the INJ ETF filing to the SEC on Monday. According to the filing, the proposed 21Shares Injective ETF aims to offer investors direct exposure to INJ by holding physical tokens in regulated cold-storage custody.
Mirroring the structure of recently launched spot Bitcoin and Ethereum ETFs, the proposed 21Shares Injective ETF would maintain custody of INJ tokens rather than using derivatives or synthetic exposure. This approach is intended to provide transparent, asset-backed exposure for investors seeking regulated access to the token.
“This is a major signal of growing institutional interest, making $INJ one of the few digital assets with multiple ETF products in progress,” the Injective team posted on X.
Injective ranks among the top 100 cryptocurrencies by market activity and has drawn attention as decentralized finance and real-world asset use cases gain traction. The project recently hosted the inaugural meeting of the Injective Council as it advances strategic roadmap goals such as native Ethereum Virtual Machine support, a digital asset treasury, INJ ETFs, and pre-IPO markets.
The platform’s ecosystem includes partnerships with several notable companies, including Google Cloud, T-Mobile, Deutsche Telekom, YZi Labs, Galaxy Digital, and BitGo. These collaborations support infrastructure, custody, and enterprise adoption initiatives tied to Injective’s growth.
Earlier this year, Canary Capital also filed for an INJ ETF in July, making Injective one of the digital assets with multiple ETF filings under consideration.
Injective is a high-performance Layer 1 blockchain built for decentralized financial services. The platform claims the capacity to process more than 25,000 transactions per second and secures the network using its native INJ token through a delegated proof-of-stake (DPoS) consensus model.
To address common blockchain challenges like fragmented liquidity and slow finality, Injective integrates exchange primitives with CosmWasm-based composability. CometBFT (formerly Tendermint BFT) contributes fast transaction finality, enabling smoother trading and DeFi operations.
INJ price outlook as ETF approval hopes lift sentiment
At the time of the filing, INJ traded near $8.75 amid continued crypto market volatility. The ETF filing did not trigger an immediate price surge, but sentiment across the market is upbeat as investors anticipate potential SEC approvals for multiple spot crypto ETFs.
INJ remains down from its December 2024 peak near $35 and well below its all-time high of $52.75 reached in March 2024. Nevertheless, buyers have focused on defending the $8.00 support level after a dip to about $7.80 on October 17, 2025. Previously, INJ showed resilience by recovering from lows around $6.90 in April.
Beyond ETF-driven optimism, other bullish factors include institutional treasury moves such as a reported $100 million allocation by Pineapple Financial, which has been cited as supportive of demand for INJ and similar assets.
Overall, the 21Shares filing adds to the narrative of growing institutional interest in Injective and highlights the broader trend of spot ETF applications across the crypto sector. Market participants will be watching SEC responses and additional fund filings closely, as approvals could meaningfully reshape liquidity and investor access for tokens like INJ.