ESPN's Chris Mortensen reported earlier this week that Ertz, who suffered the injury during Sunday's loss to the Baltimore Ravens, was expected to miss three to four weeks.
Ertz was hurt in the second half and tried to reenter the game after having his ankle taped, but he pulled up while running a route in the fourth quarter and was unable to finish.
The NFL trade deadline is Nov. 3. Any thought of trading Ertz, who is at a stalemate with the Eagles over a contract extension and has voiced his frustration publicly, is complicated by the injury and the IR designation.
Ertz, 29, entered the season with more catches through the first seven seasons of his career (525) than any other tight end in NFL history. The three-time Pro Bowl selection had a slow start to his 2020 campaign, however, posting 24 catches for 178 yards and a touchdown through six games.
In a corresponding move, the Eagles activated offensive lineman Matt Pryor off the reserve/COVID-19 list. He was placed on the list Friday after coming in close contact with someone who had tested positive for the coronavirus.
Because Pryor didn't get practice reps this week, coach Doug Pederson suggested it was unlikely the lineman would return to his role as starting right guard for Thursday's game against the Giants. Sua Opeta appears in line for the start.