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World desk3 min

Injective CEO Eric Chen Says U.S. INJ ETFs Could Launch Before 2027

Eric Chen expects U.S. INJ ETFs sooner than 2027, but his comments are not an approval or launch date. See what the 21Shares and Canary records establish.
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Injective co-founder and CEO Eric Chen said he thinks 2027 is “a little bit too far” away for U.S. Injective (INJ) exchange-traded funds, but he did not give a launch date. His comment is an expectation—not an SEC approval, a confirmed timetable, or a guarantee that either proposed fund will begin trading before 2027.

What did Eric Chen say about the INJ ETF timeline?

In an interview with The Block at Korea Blockchain Week 2026, Chen said: “I can’t comment on the specific time, but I think 2027 is a little bit too far.” He added: “It’s actually way sooner than I expected as well, so we’ll see.” The Block characterized his outlook as a launch before 2027; Chen himself declined to specify when.

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The two proposals named in the report are the 21Shares Injective ETF and the Canary Staked INJ ETF. Chen’s remarks indicate his expectation about how quickly the process may move, not a date announced by either issuer or a regulator.

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Are the proposed U.S. INJ ETFs approved or trading?

The available records do not establish that either fund has been approved or will definitely launch before 2027. A registration statement or amendment is part of the filing process; it is not, by itself, proof of approval, effectiveness, exchange listing, or the first day of trading.

The SEC EDGAR index lists a September 18, 2026 Form S-1/A, “Amendment No. 1 to Form S-1,” for the 21Shares Injective ETF. That confirms an amended registration filing, not that the SEC has cleared the fund to trade. The Block reported that both issuers submitted amended S-1 registration statements in September, but the primary filing index verified here directly confirms the September 18 entry for 21Shares.

How do the 21Shares and Canary proposals compare?

Proposal What the cited records establish What they do not establish
21Shares Injective ETF The SEC EDGAR index lists a Form S-1/A filed September 18, 2026. The Block reported that the issuer submitted an amended S-1 in September. Approval, effectiveness, exchange listing, a trading start date, or a launch before 2027.
Canary Staked INJ ETF The Block named the proposal and reported an amended S-1 in September. A Federal Register notice dated August 28, 2025 describes proposed terms under which the trust would hold INJ and cash or cash equivalents and could stake some or all of its INJ through staking providers. A specific verified amendment filing date, approval, current availability, a trading start date, or guaranteed staking returns.

The Canary notice describes proposed fund terms, which may not reflect a later amendment. Its staking language means staking is contemplated under the proposal; it does not establish that staking will occur or produce any particular return.

What is the regulatory distinction between a filing and a launch?

An S-1 or amended S-1 is a registration-statement filing. It documents information submitted in connection with a proposed offering, but an amendment alone does not show that the registration statement has become effective or that an exchange has listed the fund. Investors should therefore distinguish Chen’s forecast from an official regulatory action and from an actual first day of trading.

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The Federal Register notice also records figures from the exchange’s proposal argument: fully diluted market capitalization above $4.5 billion in March 2024 and market capitalization above $1.4 billion in July 2025. These are historical figures cited in the proposal record, not current INJ valuations or SEC findings.

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What else did Chen say about U.S. licensing?

In the same report, Chen said transfer-agent licensing was “basically the very start” and that Injective would work on additional licenses. He also said an Injective institution could act as a clearinghouse for settlement. These are Chen’s comments about the company’s plans, not regulatory assurances or confirmation that the proposed ETFs have been approved.

Sources

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