Eric Chen, the CEO of Injective, says US exchange-traded funds tied to the project's INJ token could launch sooner than 2027. Two applications are currently on file with US regulators: the 21Shares Injective ETF and the Canary Staked INJ ETF.
Chen's comment sets a public marker on timing for products that don't yet have approval to trade. It also puts Injective in the queue of crypto projects hoping to win a spot in US exchange-traded fund listings.
What's actually filed
The two proposals represent different structures. The 21Shares Injective ETF is a straight INJ product from an issuer with a track record in crypto ETFs. The Canary Staked INJ ETF adds staking to the wrapper, meaning the fund would seek to earn rewards on the tokens it holds rather than simply track the price.
Staking inside an ETF is the more complicated of the two. It raises questions about custody, validator selection, and how rewards are treated for tax and disclosure purposes. None of those details are public yet from the filings themselves.
Why the 2027 date matters
Chen didn't give a specific month or quarter. He said sooner than 2027, which narrows the window without committing to a hard deadline. That phrasing matters because ETF approval timelines in the US are driven by the Securities and Exchange Commission's review process, not by issuer optimism.
The SEC has taken varying lengths of time on crypto ETF applications over the past several years, and the agency's posture has shifted depending on which products are in front of it. A staked product adds an extra layer of review because of the staking component.
What the applications don't say
Neither filing publicly lists a fee, a ticker, or a listing exchange in the facts available. Those are typically disclosed later in the process, often through amended filings. Without them, it's hard to judge how competitive either product would be against existing crypto ETFs.
There's also no public comment from the SEC on either application, and no indication of when a decision could come. The agency doesn't preview its timing.
Where Injective sits
Injective is one of a number of layer-1 networks that have pursued ETF exposure as a way to reach traditional investors. The strategy is simple in concept: give brokerage-account investors a way to get price exposure without setting up a crypto wallet or dealing with an exchange directly.
Whether that translates into demand is a separate question. Crypto ETFs have drawn strong flows in some categories and thin volume in others, and the difference often comes down to name recognition and how easily the underlying asset can be explained to an advisor.
Chen's timeline comment is the first concrete signal from the project about when it expects a decision. Until the SEC acts, that's a prediction rather than a date.
