21Shares, Canary file new SEC amendments for proposed Injective ETFs
In brief
- 21Shares filed S-1 Amendment No. 1 for its spot Injective ETF on September 18.
- Canary Capital filed Amendment No. 3 for its staked INJ ETF in late September.
- Canary's filing targets staking at least 90% of fund holdings; 21Shares keeps staking discretionary.
- Proposed tickers are TINJ on Nasdaq and INJS on Cboe BZX; both funds remain pending.
What the filings say
21Shares filed S-1 Amendment No. 1 for its spot Injective ETF on September 18, Crypto Briefing reported. It revises the original registration statement the issuer submitted in October 2025. The fund is proposed to trade on Nasdaq under the ticker TINJ, and the amendment adds detail on how it would hold INJ directly (and how 21Shares would keep discretion over whether to stake those tokens).
Canary Capital followed in late September with Amendment No. 3 for its Canary Staked INJ ETF. That product is proposed to list on Cboe BZX under the ticker INJS, and its filing targets staking at least 90% of the fund's holdings.
BitGo is named as the INJ custodian, and CoinDesk is set to provide the pricing benchmark. BNY Mellon and US Bank also appear alongside BitGo as service providers across the documents, according to the outlet.
Both products are still proposals.
Two different approaches to staking
So what separates them? Canary's commitment of at least 90% of holdings to staking means the fund's appeal depends heavily on staking rewards, Crypto Briefing wrote. It also means the fund takes on the operational complexity that comes with staking, from validator selection to custody arrangements.
21Shares went the other way. It's keeping discretionary staking as an option rather than committing to it, which lets the issuer adapt if rules, market conditions or operational risks change.
That's a real structural difference for a token whose holders can earn by staking.
Where INJ exposure already exists
These filings wouldn't be the first listed INJ products. A European exchange-traded product tied to the token already exists, and US-listed INJ futures are available too, according to Crypto Briefing.
The outlet also reported that the Injective chain has processed more than 3 billion total transactions, with roughly 42 million of those coming in the month to late September 2026. Crypto Briefing said Injective has registered with the SEC as a transfer agent for real-world assets (RWAs).
Frequently asked questions
What's the difference between the 21Shares and Canary Injective ETFs?
Canary's proposed Staked INJ ETF targets staking at least 90% of its holdings, so its appeal depends heavily on staking rewards, according to Crypto Briefing. 21Shares' spot Injective ETF keeps staking as a discretionary option, letting the issuer adapt if rules, market conditions or operational risks change.
Where would the proposed Injective ETFs trade?
The 21Shares fund is proposed to trade on Nasdaq under the ticker TINJ. Canary's staked INJ product is proposed to list on Cboe BZX under the ticker INJS. Both remain pending.
Who are the service providers named in the INJ ETF filings?
BitGo is named as the INJ custodian and CoinDesk is set to provide the pricing benchmark. BNY Mellon and US Bank appear alongside BitGo as service providers across the documents, Crypto Briefing reported.
