In a significant development for the cryptocurrency market, 21Shares has submitted a new application for a spot Exchange-Traded Fund (ETF) centered on Injective (INJ) to the U.S. Securities and Exchange Commission (SEC). This move highlights the growing interest in alternative cryptocurrencies as they vie for attention amidst a rapidly evolving regulatory landscape.
21Shares Submits Application for New Injective ETF
The official X account of Injective announced on Monday that 21Shares has filed an application for the INJ ETF with the SEC. The filing, dated October 20, 2025, positions Injective among several cryptocurrencies seeking ETF approvals in the U.S.
The proposed 21Shares Injective ETF aims to provide investors with direct exposure to the INJ token. Similar to other ETF proposals that followed the launches of Bitcoin and Ethereum spot ETFs, the 21Shares Injective ETF will hold physical INJ tokens in cold storage.
“This is a major signal of growing institutional interest, making $INJ one of the few digital assets with multiple ETF products in progress,” tweeted the Injective team.
Ranking among the top 100 cryptocurrencies, Injective is making strides in sectors such as decentralized finance (DeFi) and real-world asset integration. Recently, the platform hosted its inaugural Injective Council meeting, further driving engagement and adoption through contributions from industry leaders.
Prominent partners include Google Cloud, T-Mobile, Deutsche Telekom, YZi Labs, Galaxy Digital, and BitGo. Previously, Canary Capital had submitted an ETF application for INJ in July.
As a high-performance layer-1 blockchain, Injective is designed for DeFi services and can process over 25,000 transactions per second, using its native token, INJ, to secure the network through a Delegated Proof-of-Stake (DPoS) consensus mechanism.
Injective addresses infrastructure challenges such as fragmented liquidity and slow transaction finality by incorporating exchange primitives alongside CosmWasm-based composability, while Comet BFT (formerly Tendermint BFT) ensures rapid finality.
Price Outlook for INJ Amid ETF Approval Buzz
Currently trading at approximately $8.75, INJ has shown resilience amidst wider cryptocurrency market volatility. While the token’s price has yet to see a dramatic surge due to ETF news, market sentiment remains optimistic.
Much of the bullish perspective stems from anticipation that the SEC may soon approve multiple crypto ETFs, potentially alleviating the current bearish market pressure and allowing bulls to reclaim control.
The price of Injective is down from its peak near $35 in December 2024 and well below its all-time high of $52.75 reached in March 2024. Following a recent drop to around $7.80 on October 17, 2025, bulls are attempting to maintain support above the $8.00 threshold.
Prior to this, INJ demonstrated resilience by bouncing back from lows of $6.90 in April. In addition to ETF-related optimism, significant bets on treasury assets, such as the $100 million move by Pineapple Financial, are helping support the bullish case for INJ.
