21Shares Injective ETF

S-1 filed

21Shares Injective ETF (the Trust) is a passive exchange-traded fund designed to track the performance of INJ tokens, the native digital asset of the Injective blockchain. The Trust will hold INJ and value its shares daily based on the CME CF Injective-Dollar US Settlement Price, adjusted for expenses and staking rewards. The Sponsor, 21Shares US LLC, oversees the Trust, with CSC Delaware Trust Company as Trustee and Coinbase Custody and BitGo as INJ custodians. The ETF is not an investment company under the 1940 Act, lacking regulatory protections for investors. The Trust may engage third-party staking services, but staking decisions are subject to legal and tax risk assessments.