Canary ETF Filing Sends INJ Higher: Can Injective Price Reach $7 Next?

A Canary ETF filing has pushed Injective (INJ) higher, with traders now focused on whether the token can challenge the $7 level again. The article says INJ is holding above a critical $4 support zone while bulls target $7, after the price surged nearly 10% on renewed optimism around Canary Capital’s proposed staked INJ ETF. It describes the amendment as providing greater regulatory clarity and details around custody and staking mechanisms, including a fund that would trade under the ticker INJS while actively staking INJ to generate network rewards. The proposal reportedly includes institutional-grade custody via BitGo and a cash-based creation/redemption mechanism, along with provisions for unstaking requirements using liquid reserves. In the technical framing, repeated buying near $4 is said to have formed a stronger base during a prolonged correction.