TL;DR
- Injective co-founder and CEO Eric Chen expects U.S. INJ ETFs to launch before 2027, saying the process is moving faster than he anticipated.
- Two products remain pending: the 21Shares Injective ETF and Canary Staked INJ ETF, with both issuers filing amended S-1 statements in September.
- Injective is also expanding institutional infrastructure through SEC transfer-agent registration, the Meridian upgrade and MiCA work, but ETF approvals still depend on regulators and issuers.
Injective co-founder and CEO Eric Chen expects U.S. exchange-traded funds tied to INJ to launch before 2027, saying the process is moving faster than he anticipated. Speaking at Korea Blockchain Week 2026, Chen said 2027 feels “a little bit too far” without giving a specific launch date. Injective currently has two U.S. ETF applications connected to its native token. Chen’s outlook signals confidence in regulatory progress, but approval and launch timing remain decisions for regulators and issuers rather than the network itself.
Two INJ ETF Applications Advance Through the SEC Process
The pending products are the 21Shares Injective ETF and Canary Staked INJ ETF. Both issuers originally filed in 2025 and submitted amended S-1 registration statements in September 2026, indicating that the application processes remain active. Canary’s proposal would incorporate staking exposure, extending an earlier push for a staked INJ ETF. Two active filings give Chen a concrete basis for expecting progress, although neither application has received final SEC approval.
Chen’s ETF comments come alongside a broader institutional licensing strategy. Injective Institutional Services became an SEC-registered transfer agent in August, enabling the affiliated entity to maintain securities ownership records and process transfers. Chen described that registration as only the beginning of the network’s U.S. licensing plans. The transfer-agent registration gives Injective regulated infrastructure around tokenized securities, but it does not itself authorize an INJ ETF.
The network also activated its Meridian upgrade on September 24 after governance approval. Chen described the release as an institutional upgrade intended to move tokenization, offerings and collateralization from pilots into live onchain activity, with transfer controls designed for compliance. Meridian strengthens Injective’s institutional positioning by combining market infrastructure with compliance-oriented features, following the governance process behind the upgrade.
Injective is pursuing a parallel regulatory path in Europe. Chen said the network’s MiCA white paper for INJ has been submitted and finalized, while the project is working with already licensed firms as it develops payments and tokenization partnerships. The strategy suggests Injective is building regulatory infrastructure across multiple markets while awaiting decisions on U.S. ETF products. Chen’s before-2027 expectation remains a forecast, however, and the outstanding applications still depend on regulatory review before any fund can begin trading. That leaves the timing dependent on SEC action rather than on Injective’s technical readiness or Chen’s expectations.
