As a seasoned crypto investor with a keen interest in following developments within the industry, I can’t help but be intrigued by Shytoshi Kusama’s recent tweet regarding potential SHIB ETF prospects. Having witnessed the SEC’s approval of Ethereum spot ETFs, I share the excitement of the community and can’t help but wonder if this could indeed pave the way for a SHIB ETF in the future.
Shytoshi Kusama, the mysterious head of the Shiba Inu project, extends his well-wishes to the Ethereum community following the recent SEC approval of an ETF tied to their platform in the United States.
He raises the possibility that a SHIB spot exchange-traded fund could experience a similar occurrence in the future.
SHIB ETF prospects and Shytoshi’s current focus
As a dedicated crypto investor, I’m thrilled to share some exciting news. The Shib Inu (SHIB) lead recently expressed his congratulations to the SHIB and Shibarium community on Ethereum for the successful approval of the ETF based on Ethereum (ETH). This development has led me to ponder if this could potentially open doors for SHIB in the future. Could we be looking at a possible approval of a SHIB ETF down the line? Only time will tell.
Without delving too deeply into this hypothetical scenario, he went ahead and expressed that it was up for debate among the community, while he would continue to concentrate on the upcoming projects of the SHIB team. He ended his statement with a hint of excitement, using the hashtag #staytuned.
SEC approves Ethereum ETFs
On Thursday, May 24th, long-awaited approval was granted by the SEC for Ethereum spot ETF applications submitted by various Wall Street firms earlier in the year. This decision came six months following the SEC’s approval of spot Bitcoin ETFs in mid-January.
I, as an observer, note that Ethereum ranks second in cryptocurrency market capitalization. The recent approval of an Ethereum-based ETF is a significant milestone for the crypto industry, following the approval of Bitcoin spot ETFs. Moreover, venture investor Anthony Pompliano expressed his belief on Twitter that this move would be the final barrier to be surmounted before Wall Street fully embraces crypto assets.
In the list of authorized Ethereum Exchange-Traded Funds (ETFs) were applications from some notable firms such as BlackRock, Grayscale (previously an Ethereum spot ETF under their trust), VanEck, Bitwise, Fidelity, and Ark Invest.
In simpler terms, Ethereum-based ETFs are anticipated to have significantly less capital under their management compared to their previous versions. For instance, Grayscale’s Ethereum ETF manages around $11 billion in assets, which pales in comparison to the vast sums held by its Bitcoin Trust prior to its conversion into a spot ETF.
As a financial analyst, I’ve been closely following recent developments in the crypto space. Earlier this month, notable players like Ark Investment Management, Grayscale Investments, and Fidelity Investments made adjustments to their Exchange-Traded Fund (ETF) filings. They removed the staking component from these filings due to a legal concern.
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2024-05-24 10:40