Injective launches native token on Solana amid proposed ETF filing

Injective (INJ) has launched as a native token on the Solana blockchain, functioning as a native SPL token rather than a wrapped version. This integration allows users to trade, swap, and provide liquidity for INJ directly through Solana-based applications and the Phantom wallet. Following the announcement, the price of INJ rose by approximately 17% to 20%, reaching nearly $7.60.

In addition to the technical rollout, 21Shares has filed an S-1 update for a proposed Injective exchange-traded fund (ETF). The filing suggests a strategy to stake between 40% and 60% of the fund’s INJ holdings to generate yield, subject to liquidity needs. The proposed product aims for a Nasdaq listing under the ticker TINJ, with BNY Mellon serving as the administrator, transfer agent, and cash custodian. The FTSE Injective Index is expected to act as the pricing benchmark.