Canary Capital Bets Big: Staked Injective ETF Filing Sparks Rally – Is $16 INJ the Next Stop?

Wall Street meets crypto again—this time with a staked twist. Canary Capital just dropped the mic with its filing for a staked Injective (INJ) ETF, sending traders scrambling to price in the news.

INJ bulls eye $16 as the next target

The filing turbocharges Injective's institutional cred while giving retail investors indirect exposure to staking yields—because who actually wants to self-custody these days? Traders are already front-running the SEC's inevitable foot-dragging, with INJ futures volume spiking 300% post-announcement.

DeFi purists sneer at the ETF-ification of crypto—meanwhile, hedge funds quietly allocate 5% of their portfolios to 'regulated yield plays.' The market's voting with its wallet: staking derivatives now command a $42B valuation, and TradFi can't resist the siren song of 8% APY wrapped in a ticker symbol.

Will the SEC greenlight this before the next halving? Unlikely. Does it matter when crypto moves at light speed? The tape says no—INJ's already up 18% on the rumor. Buckle up.

Key Takeaways

Canary Capital files for the first-ever Injective staking ETF. The DEX volume has also increased in the last 24 hours, while TVL almost hit 2025 highs. But how high can INJ rise after these triggers?

Injective [INJ] ROSE by about 8% in the last 24 hours as of press time, with an unlocked market cap of $1.45 billion as per CoinMarketCap.

Meanwhile, the AI crypto coin is getting more exposure in the U.S. market.

Canary Capital files for Injective staking ETF

Canary Capital filed for the first-ever Injective staking ETF in Delaware, as reported on X (formerly Twitter), with the product set to contribute to network security.

Earlier on, 21Shares’ AINJ ETF in Europe had an impact on demand, which suggested the U.S. market could have an even larger one following its size.

Source: X

The SEC has yet to confirm receipt of the Injective ETF filing. Once acknowledged, it will announce key dates for further updates.

This decision could shape Injective’s long-term trajectory, especially as ETFs become a popular gateway for crypto exposure.

The proposed Canary Staked INJ ETF offers both price exposure and staking rewards, making it a unique tool for investors seeking regulated access to decentralized finance

Will the reversal pattern hold?

Meanwhile, the price action of Injective broke above a massive inverted head-and-shoulders pattern, which could be a sign the trend had shifted.

After INJ successfully retested the breakout with a double bottom, the price surged up to $15, at press time.

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.

Source: TradingView

Still, the zone could get sellers taking the price of INJ back to a bearish formation that WOULD be validated only if the price went below the $12 level.

However, the short-term prospects are bullish for INJ until the structure says otherwise.

Daily DEX volume and TVL are recovering

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.

Source: DeFiLlama

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.