Injective (INJ) Rises 27% in a 24-Hour Snapshot to $9.269

Injective (INJ) rose 27.43% to $9.269 in a 24-hour snapshot early Friday, a sharp move that came as two proposed U.S. ETFs outlined plans to hold and stake the token.

At 3:58 a.m. ET Friday, Oct. 16 (07:58 UTC), INJ was $9.269, up 27.43% over the preceding 24 hours. At 8:37 p.m. ET Friday (00:37 UTC Saturday, Oct. 17), INJ was $8.65, up 1.38% over the preceding 24 hours. The percentages cover separate rolling periods.

The proposed 21Shares Injective ETF would hold INJ and may stake part of its holdings if the sponsor determines staking would not create undue legal or regulatory risk. Its shares are expected to list on Nasdaq under TINJ.

The Canary Staked INJ ETF plans to stake at least 90% of its holdings under normal circumstances. The securities cannot be sold until the registration statement becomes effective.

The filings do not establish that ETF expectations caused the price increase. INJ is used for staking, governance and transaction fees on Injective Network.