Merkle Capital launches Asia's first regulated INJ fund at $5.75

Merkle Capital launched Asia's first regulated INJ fund on June 4, giving retail and institutional investors a compliant gateway to the token.

"Asia's first regulated INJ fund opens a compliant path for investors who want exposure without managing custody themselves," a Merkle Capital spokesperson said.

The M-INJ fund, supervised by Thailand's Securities and Exchange Commission, holds a single asset — INJ — and targets both retail and institutional investors. Merkle Capital secured the first Digital Asset Fund Management license from the Thai SEC in January 2022 and previously launched Bitcoin-focused products and an Ethereum strategy called M-ETHE.

The launch adds to Injective's growing regulatory footprint. INJ futures already trade on Bitnomial, a CFTC-regulated exchange, and Canary Capital filed for INJ exchange-traded funds as of mid-2026. The regulated structure removes custody and counterparty friction that keeps institutions on the sidelines, though a single-asset fund carries concentrated market risk.

INJ traded near $5.75 as of press time, recovering from a prolonged downtrend that bottomed near $2.30. The token formed a five-wave Elliott impulse structure, according to analyst MCO Global DE, with resistance at $7.15 (38.2% Fibonacci), $9.70 (50%), and $13.17 (61.8%). Support sits between $5.00 and $4.45, with deeper protection at $3.96 and $3.36.

Momentum indicators show cooling after the rally. The relative strength index stood at 53.98, below its moving average of 68.22, signaling a consolidation phase. The MACD remained in bullish territory with the histogram near zero at -0.00030, suggesting the uptrend is intact but slowing.

The regulated fund structure could drive institutional demand for INJ, boosting liquidity and trading volume. However, the single-asset strategy means the fund carries no diversification — if INJ drops 50%, the fund drops 50%. The compliance framework protects against counterparty and custody risk, not market risk.

This article is for informational purposes only and does not constitute investment advice.