21Shares files amended Injective ETF with the SEC, INJ jumps 18%
21Shares added a staking component to its Injective ETF filing with the SEC, INJ jumped 18%. European investors have had a comparable product with staking on Euronext since 2024.
Asset manager 21Shares filed an amended S-1/A registration with the SEC on 18 September for a spot ETF on Injective (INJ), adding a staking component for the first time. INJ jumped roughly 18% to above $7.60 on the news. For European investors, this is mostly a case of catching up: 21Shares has traded a physically-backed Injective product with staking on Euronext since July 2024.
What the amended filing contains
21Shares originally filed for a Nasdaq-listed Injective ETF in October 2025, under the proposed ticker TINJ. The 18 September update adds a staking component missing from the original filing: the fund could stake 40 to 60% of its INJ holdings, with the FTSE Injective Index as pricing benchmark and BNY Mellon as administrator, transfer agent and cash collateral custodian (source: The Market Periodical, 20 September 2026). Crypto Times independently confirms the same core points and reports that custody of the underlying INJ tokens themselves remains unresolved during SEC review (source: Crypto Times, 19 September 2026).
Why INJ climbed this week
INJ rose from around $5.98 to a peak of $7.70, up roughly 18% within 24 hours, with trading volume up nearly 194% to about $281 million (source: The Market Periodical, 20 September 2026). Two things coincided: 21Shares' ETF update, and the launch of a native INJ token on Solana — letting INJ trade and be used directly on Injective, Ethereum, BNB Chain and now Solana without a cross-chain bridge (source: Crypto Times, 19 September 2026).
What European investors already have
The US ETF news is mostly confirmation, for EU investors, of something that already exists: 21Shares launched a physically-backed Injective product with staking on Euronext Paris and Euronext Amsterdam back in July 2024, under ticker AINJ. The product is backed by INJ held in cold storage and was backed at launch by 25 financial institutions, including Interactive Brokers, Saxo Bank, Swissquote and eToro (source: Cointelegraph, published 18 July 2024, accessed 21 September 2026).
In practice: while US investors wait for SEC approval of a listed spot ETF, European investors have already had over a year of regulated exposure to INJ with staking, via Euronext.
The catch: two separate tracks, not one product
The US TINJ filing and the European AINJ product are separate, non-interchangeable products from the same issuer. A US SEC approval changes nothing about the European product's terms, and vice versa. Holding AINJ doesn't automatically pass on any terms from the US filing.
Frequently asked questions
Can I already invest in an Injective ETP as a European investor?
Yes. 21Shares' Injective product (ticker AINJ) has traded with staking on Euronext Paris and Euronext Amsterdam since July 2024.
Has 21Shares' US Injective ETF been approved yet?
No. The SEC is still reviewing the amended S-1/A filing; custody of the underlying INJ tokens remains unresolved.
Why did INJ jump 18% this week?
Because of the coincidence of the amended US ETF filing with its staking component and the launch of a native INJ token on Solana, which broadens the token's usability.
Is the European AINJ product the same as the US TINJ filing?
No, they are separate products from the same issuer, each with its own structure, exchange and terms.
Sources, checked 21 September 2026:
- Crypto Times — Injective's INJ Token Surpasses $7.50 After Solana Expansion and ETF Filing, 19 Sep 2026
- The Market Periodical — INJ Price Rallies Over 20% as 21Shares Updates Injective ETF Filing, 20 Sep 2026
- Cointelegraph — 21Shares launches Injective ETP with staking on Euronext, 18 Jul 2024, accessed 21 Sep 2026