TL;DR

• Injective enters the Layer-1 staked ETF race following its first such filing after launching its EVM-compatible beta mainnet.
• Technical breakout above $15.23 opens path to $25–$30 based on Fibonacci extensions.
• Injective leads all L1s in code commits and joins the top 10 blockchains by revenue.

Cboe Moves to List First Staked INJ ETF in the U.S.

Cboe BZX has filed to list a new exchange-traded fund focused on staked Injective (INJ). The filing follows Canary Capital Group’s Form S-1 submission to the SEC. If approved, the fund would be the first of its kind in the US tied to a staked Layer-1 token.

This ETF is built to give traditional investors access to Injective’s staking rewards without requiring technical steps such as wallet setup or validator selection. The structure allows direct participation in Injective’s proof-of-stake mechanism while remaining within a regulated framework.

The Injective filing came on the same day Cboe submitted a proposal for a Solana ETF in partnership with Invesco and Galaxy. The two filings come as interest in regulated crypto funds gains traction in the US under the current administration.

EVM Integration and Development Progress

Injective announced the upcoming launch of Ethernia, an upgrade that includes the first EVM-compatible beta mainnet. The move allows Ethereum-based smart contracts to run on its network. This may improve developer flexibility and bring more activity to the chain.

In just the past few days:

✅ The first $INJ ETF Filing
✅ Injective tokenizes the first digital asset treasury
⏳Injective Ethernia Upgrade to launch the first EVM Beta Mainnet

Ninjas are on a roll. First to innovation. First to the future.

Always first, always Injective.

— Injective (@injective) July 28, 2025

Recent data also shows Injective leading among Layer-1s in code commits, with more than 36,500 tracked. That number is slightly ahead of other L1 networks, indicating consistent engineering progress.

Chart Setup Shows Breakout Above $15

Technical analyst Ali Martinez shared a chart showing Injective breaking out of an ascending triangle, with the actual point occurring around $15. Fibonacci extension levels suggest possible zones at $18.95, $21.23, and $25.01. These figures are commonly used to measure where prices could face friction.

Injective $INJ targets $25 after breaking out of an ascending triangle! pic.twitter.com/neIt6D2XW8

— Ali (@ali_charts) July 28, 2025

As of press time, INJ trades near $15.20, with weekly performance up 4%. Volume over the past 24 hours stands at $222.6 million. Another trader, Marco Polo, noted that the token has cleared its downtrend and is climbing in a rising channel.

Moreover, Crypto Rand noted that Injective “is following the path” and may be heading “straight to $30.” He also pointed out that Injective recently entered the top 10 blockchains by revenue while maintaining the highest code commit count among Layer-1 chains.

For now, INJ is approaching the $17 mark. A close above this level with substantial volume could open the door to further gains toward $24 or more.