Key Insights:
- INJ gained more than 23% in 24 hours as the SEC received 21Shares’ amended Injective ETF registration filing.
- The proposed 21Shares Injective ETF would trade on Nasdaq under TINJ and track INJ through the FTSE Injective Index.
- The amended filing allows discretionary INJ staking, while the SEC review continues and custody arrangements remain unresolved.
On September 19, the price of INJ climbed approximately 18% over a 24-hour period amidst two key catalysts. The movement came as 21Shares submitted an amended Injective ETF filing shortly after INJ expanded natively onto Solana.
According to the latest CoinMarketCap readings, Injective was valued near $6.88. Because the token had already experienced a rally following its September 17 Solana rollout, market observers noted it is difficult to attribute the upward momentum solely to the updated ETF filing.
Injective Price Climbs as Trading Volume Expands
Over the course of 24 hours, Injective surged from around $5.98 to $7.60. Market charts displayed consistent growth throughout the majority of the session, culminating in a sharper breakout past $7.00. The cryptocurrency eventually hovered near the peak of its daily range after briefly touching $7.70, with intraday momentum accelerating past $7.00 alongside strong trading volume.
Market activity expanded in tandem with the price. CoinMarketCap data recorded a market capitalization of roughly $759.8 million, marking a 23.8% increase over the period. Injective’s 24-hour trading volume spiked 194.4% to sit near $281 million, resulting in a volume-to-market-cap ratio of 36.61%.
Circulating supply metrics indicated approximately 99.97 million INJ tokens in circulation against a total supply of 100 million, bringing the fully diluted valuation close to $760.05 million. These figures show that nearly the entire reported token supply was actively circulating during the rally.
21Shares Updates Injective ETF Filing
On September 18, 21Shares submitted an amended S-1 registration statement for its proposed Injective ETF, following the initial submission made on October 20, 2025. The prospective fund aims to provide exposure to INJ via a traditional exchange-traded structure, though the filing itself does not grant approval for public trading.
The revised proposal designates Nasdaq as the intended listing venue under the ticker symbol TINJ, utilizing the FTSE Injective Index as its pricing benchmark. Furthermore, the framework enables 21Shares to stake a portion of the fund’s INJ holdings, passing staking rewards through to the product. Reports on the update indicate a targeted staking allocation between 40% and 60%, depending on liquidity demands.
The updated proposal lists BNY Mellon as the cash custodian, transfer agent, and administrator. The initial S-1 filing previously named 21Shares US LLC as the sponsor of the trust, alongside plans for direct INJ custody.
Solana Launch Broadens Access to INJ
The price surge also coincided with the debut of INJ on Solana as a native SPL token. This integration expanded availability across multiple Solana-centric decentralized finance and trading platforms, including Raydium, Jupiter, Meteora, DFlow, and Pump.fun. CoinMarketCap highlighted the Solana launch occurring within the exact same trading window as the ETF amendment.
Although both developments coincided with a spike in spot volume, available market analytics do not differentiate between trading activity driven by the Solana rollout and purchases prompted by the ETF filing. The timeline simply illustrates that both occurrences took place during the broader expansion of INJ’s price and volume.
INJ Price Prediction Targets $15.80 First
Current INJ price projections suggest the token could advance toward $15.80 provided its prevailing higher-low structure remains intact. Analysts pinpoint $15.80 as the initial primary resistance barrier, meaning INJ would need to more than double from its $7.60 mark to reach that threshold.
A successful breakout past $15.80 shifts the focus toward $33.20 as the subsequent resistance level. Beyond that, forecasts indicate $47.16 as a major long-term target if the token sustains its bullish trajectory.
This structural outlook develops on the heels of a sustained pattern of higher lows following INJ’s major cycle peaks in 2021 and 2024.
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments involve risk, and past performance does not guarantee future results. Readers should conduct their own research before making investment decisions.