Injective [INJ] surges 8% as Canary Capital files for first staking ETF

Canary Capital has filed for the first-ever Injective staking ETF in Delaware. This move is significant as it aims to contribute to network security and could potentially shape Injective’s long-term trajectory. The proposed Canary Staked INJ ETF offers both price exposure and staking rewards, providing a unique tool for investors seeking regulated access to decentralized finance. The SEC has yet to confirm receipt of the Injective ETF filing, but once acknowledged, it will announce key dates for further updates.

This development comes at a time when Injective [INJ] has seen an 8% rise in the last 24 hours, with an unlocked market cap of $1.45 billion. The AI crypto coin is also gaining more exposure in the U.S. market. Earlier, 21Shares’ AINJ ETF in Europe had an impact on demand, suggesting that the U.S. market could have an even larger impact following its size.

The price action of Injective has broken above a massive inverted head-and-shoulders pattern, which could indicate a shift in trend. After successfully retesting the breakout with a double bottom, the price surged up to $15. As INJ traded in a key zone between the $14-$16 price range, its reaction here could define its short-term outlook as the ETF hype drives price. Failure to thrust past $16 and sustaining to stay above in the current sentiment could result in struggles to proceed higher. However, the short-term prospects are bullish for INJ until the structure says otherwise.

Additionally, the DEX volume of Injective crypto has been slowly rising since the start of July, where the month opened with an average of $393K per day. As of press time, the figures had improved to about $1.1 million daily, which was almost triple in scale. More DefiLlama data showed that the Total Value Locked (TVL) was also bullish. The TVL was $109 million, only $27 million short of the 2025 high seen in late January. Despite all the bullish triggers aforementioned, one key metric stayed flat. The stablecoin market cap on Injective has been stabilizing between the $20 million and $34 million range for the whole of 2025. Since the ETF will contribute to network security, staking could help improve stablecoin issuance on the chain. That said, the overall sentiment of this leading AI crypto remains bullish at the moment.