21Shares files for Injective ETF, second such product in development

Investing.com -- Cryptocurrency Injective (INJ) now has its second exchange-traded fund in development after 21Shares filed paperwork with the Securities and Exchange Commission for an Injective ETF on Monday.

This filing follows Canary Capital’s earlier application for an Injective ETF submitted in July.

"This is a major signal of growing institutional interest, making $INJ one of the few digital assets with multiple ETF products in progress," Injective stated on its official X page Monday.

21Shares ranks among the world’s largest exchange traded product issuers.

Injective is a high-performance Layer 1 blockchain specifically designed for decentralized financial services (DeFi). The network can process over 25,000 transactions per second and uses a native token, INJ, that secures the network through a delegated proof-of-stake (DPoS) consensus mechanism.

The blockchain addresses infrastructure limitations like fragmented liquidity and slow finality by combining exchange primitives with CosmWasm-based composability and fast finality powered by Comet BFT, formerly known as "Tendermint BFT."

INJ token holders can delegate their tokens to validators who secure the network and earn rewards from staking and gas fees. Validators take a commission from these rewards.

The Injective Network launched exactly five years ago on October 20, 2020, with an initial supply of 100 million INJ tokens. The distribution allocated 20% to the team, 6% to seed sale participants, 16.67% to private sale investors, and 9% to Binance Launchpad participants. Additional allocations included 36.33% for ecosystem development, 10% for community growth, and 2% for advisors.

As of September 9, 2025, INJ had a market capitalization of approximately $1.4 billion. The full genesis token supply of 100 million INJ became fully unlocked in January 2024.

Injective functions as a universal financial infrastructure layer that enables developers and institutions to launch various decentralized financial products on a shared order book. Its design includes built-in exchange logic and cross-chain compatibility, positioning it as a liquidity hub across blockchain ecosystems.

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