Updated 28 October 2026: rewritten, expanded and fact-checked against the sources listed in the article.
Injective’s INJ token rallied in late June 2026 after Canary Capital updated its application for a staked INJ exchange-traded fund. On 25 June 2026 the Canary Staked INJ ETF filed Pre-Effective Amendment No. 2 to its Form S-1 registration statement with the US Securities and Exchange Commission, according to the SEC’s EDGAR database. Coinpedia reported that INJ rose nearly 10% on the news.
Yahoo Finance daily data shows INJ closing at $4.28 on 25 June and $4.85 on 26 June, a 13.5% close-to-close gain. It touched $5.06 intraday on 27 June before closing that day at $4.63.
What the June filing said
The 25 June amendment described a trust that would hold INJ and stake it on the Injective network:
- Ticker and venue: INJS, to be listed on Cboe BZX Exchange.
- Custody: BitGo Trust Company would hold the trust’s INJ.
- Staking: the sponsor would seek to stake all of the trust’s INJ under normal conditions, keeping back only what it needs for redemptions and expenses.
- Blanks: the sponsor fee and the staking provider were not yet filled in. That is normal for an early pre-effective amendment.
A staked ETF aims to give investors both the token’s price exposure and staking rewards, minus fees, inside a regulated brokerage account. That is the feature Coinpedia and other outlets highlighted.
Filing history
The June amendment was one step in a process that began in 2025. EDGAR lists these filings under registration number 333-288721:
| Date | Filing | Key change |
|---|---|---|
| 17 Jul 2025 | S-1 | Original registration statement |
| 17 Dec 2025 | S-1/A | Amendment |
| 25 Jun 2026 | S-1/A (No. 2) | Ticker INJS, Cboe BZX, BitGo custody |
| 24 Sep 2026 | S-1/A (No. 3) | At least 90% of INJ expected to be staked; refers to the exchange’s generic listing standards |
| 23 Oct 2026 | S-1/A (No. 4) | Ticker changed to INJC on Nasdaq; 1.10% sponsor fee |
The 23 October amendment fills in most of the remaining details. It sets an annual sponsor fee of 1.10% and names BitGo Bank & Trust as custodian. It expects aggregate staking fees of 30% of rewards, leaving 70% for the trust. It also says the Injective Foundation intends to buy up to $15 million of seed shares at $25 each.
Correction: the earlier version of this article said the fund “will trade under the ticker INJS on the Cboe BZX Exchange”. That matched the June filing, but the latest amendment now names Nasdaq and the ticker INJC.
What Coinpedia’s analysis said
The levels below come from the Coinpedia article’s technical view at the time. They are the source’s analysis, not a forecast by CryptoUpdate:
- $4 as support and an accumulation zone, with a break below it weakening the bullish structure.
- $5.20 as immediate resistance.
- $5.50 and $6 as near-term targets, with $6 an area of earlier selling.
- $7 to $7.50 as a major supply zone and the next significant target.
How the price actually moved
Update, 28 October 2026: using Yahoo Finance daily closing prices:
- INJ did not close below $4 at any point between 26 June and 28 October.
- It first closed above $5.20 on 20 July ($5.35) and above $6 on 7 September ($6.18).
- It first closed above $7 on 19 September, at $7.92. The jump from $5.43 on 15 September came in a few days, and we could not tie it to a single verified catalyst.
- INJ reached its highest close of 2026, $8.93, on 20 October, and closed at $7.90 on 28 October, about 63% above its 26 June close.
For context, INJ’s lowest close of 2026 was $2.74 on 2 April. The token had fallen from about $5.74 at the end of November 2025, so the late-June rally came after a long decline.
Is the ETF trading?
No. As of 28 October 2026, the latest filing is still a pre-effective amendment marked “subject to completion”. The prospectus says the shares are expected to list subject to notice of issuance, and that the securities cannot be sold until the registration statement is effective. EDGAR shows no final prospectus. Any launch date is unknown.
What to watch
- Effectiveness of the S-1: trading can start only after the SEC declares the registration effective and Nasdaq lists the shares.
- Listing route: the September and October filings refer to generic listing standards. Watch whether the fund launches under them or needs a separate exchange rule change.
- Staking economics: with a 1.10% fee and 30% of rewards going to staking fees, investors’ net yield will be noticeably lower than native staking.
- Security: ecosystem incidents matter for any staked product. See our report on the Injective SDK security issue from July.
Staked crypto funds from larger issuers are covered in our report on Morgan Stanley’s ether and Solana ETPs. More explainers are in our guides hub.
Sources
- SEC EDGAR: Canary Staked INJ ETF filing list (CIK 0002073616), accessed 28 Oct 2026
- SEC: Canary Staked INJ ETF S-1/A, Amendment No. 2 (25 Jun 2026)
- SEC: Canary Staked INJ ETF S-1/A, Amendment No. 3 (24 Sep 2026)
- SEC: Canary Staked INJ ETF S-1/A, Amendment No. 4 (23 Oct 2026)
- Coinpedia via TradingView: Canary ETF filing sends INJ higher (26-27 Jun 2026)
- Yahoo Finance daily closing data for INJ-USD, retrieved 28 Oct 2026
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Corrections: An earlier version presented price levels from a Coinpedia analysis as our own outlook. The ETF's ticker (INJS on Cboe BZX) was correct at the time but an October 2026 filing changed it to INJC on Nasdaq.
How this article was made: first published on 27 June 2026 as an AI-assisted rewrite of a news report (original report by Coinpedia: TradingView News). On 28 October 2026 it was rewritten and expanded with AI assistance, and its facts and figures were checked against the primary sources linked above; errors in the earlier version are listed above. How we work · Report an error
