Injective CEO Says US INJ Spot ETF Likely to Launch Before 2027

Injective co-founder and CEO Eric Chen said a spot INJ exchange-traded fund (ETF) is likely to launch in the United States before 2027. While declining to specify an exact timeline, he emphasized that progress is moving faster than anticipated.

In an interview with crypto-focused media outlet The Block, Chen said of the US INJ ETF launch timeline: "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."

Two INJ-related ETF applications are currently pending before the US Securities and Exchange Commission (SEC): the Injective ETF filed by 21Shares and the Canary Staked INJ ETF, which includes staking functionality. 21Shares resubmitted an amended S-1 registration statement (S-1/A) in September, stating that the fund's primary objective is to track INJ's price performance and that it plans to list on Nasdaq. Canary Capital first filed its staking-enabled INJ ETF application last year.

Chen's remarks come as Injective expands its institutional presence in the United States. Injective Institutional Services, the company's institutional services arm, obtained SEC registration as a transfer agent in August. "The transfer agent registration is just the beginning," Chen said, adding that the company plans to pursue additional licenses going forward.