[REVISION HISTORY]

Injective expands ecosystem via SEC registration and ETF

10 recorded revisions of this situation.

What changed

2026-11-05 03:09 UTC → 2026-11-07 10:02 UTC · added ~~removed~~

Injective has continued its technical and deflationary developments through the summer. The IIP-677 mainnet upgrade (v1.20.3) went live following 72% affirmative votes, enhancing reliability and cross-chain interoperability. A subsequent governance proposal, IIP-678, was introduced to replace an expired IBC light client. To reinforce its deflationary model, an August community buyback program was launched, resulting in the burning of 27,400 INJ tokens. Protocol revenue has reached approximately $3 million, driven by burn auctions on the Cosmos side and EIP-1559 base-fee burns on the EVM side. In August 2026, Injective Institutional Services registered as a transfer agent with the U.S. Securities and Exchange Commission (SEC). This regulatory step aims to support regulated tokenization and real-world asset (RWA) integration. The registration supported a live trade-receivables tokenization pilot with POSCO International and LG CNS. Following this, the INJ token rallied nearly 45% toward $6, supported by the new institutional framework and a community buyback mechanism that has removed over 7 million INJ from circulation. By October 2026, the ecosystem expanded through new institutional and developmental initiatives. Canary Capital submitted an amended S-1/A registration statement to the SEC for a proposed Canary Staked INJ ETF (ticker: INJC). Other entities, including 21Shares and REX-Osprey, have also filed ETF proposals. Simultaneously, the Injective Foundation launched the Trench Treasury to support small-scale builders. Further momentum was driven by a partnership with Gulf Labs, an institutional validator focused on stablecoins and on-chain finance. Additionally, Pineapple Financial migrated $10 billion in loan records to the network, with $1 billion already settled on-chain. These developments coincided with INJ price surges, reaching approximately $9.03 after a 69% rise over 30 days. While market activity increased, some analysts noted that high transfer volumes might include wash trading. In November 2026, Canary Capital launched the Staked INJ ETF (INJC) on the Nasdaq.

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