As a seasoned crypto investor with a knack for spotting trends and deciphering market noise, I find myself intrigued by the latest rumors of a Shiba Inu ETF launch. My personal journey in this space has taught me to approach such news with a pinch of salt and a critical eye.
A surprising development is causing excitement in the cryptocurrency world: whispers about an upcoming Shiba Inu Exchange-Traded Fund (ETF) have been circulating, and it seems that this possibility is getting closer. On Monday, Whales HQ, a well-known tracking platform, disclosed that financial experts on Wall Street predict the launch of a Shiba Inu ETF in the coming days. This news has sparked a flurry of activity among market participants as investors and enthusiasts wonder if there will also be an upcoming Dogecoin ETF.
Wall Street Experts Anticipate Shiba Inu ETF Launch Ahead Of DOGE
Based on a recent post from Whales HQ on October 7th, financial analysts predict that a Shiba Inu Exchange-Traded Fund (ETF) may be coming soon. Yet, there’s a significant wave of speculation sweeping through the market as to whether these rumors hold any truth.
As a crypto investor, I can’t help but notice the potential impact that a digital asset-backed ETF could have on our ecosystem. If, by some chance, a SHIB ETF were to launch, we might witness a significant influx of funds similar to what we see with other ETFs. However, given SHIB’s relatively small market cap of only $10.52 billion, some analysts are skeptical about the feasibility of such an event happening.
As a crypto investor, I’ve noticed that Dogecoin, currently the largest meme token by market cap, might soon see an Exchange Traded Fund (ETF) before Shiba Inu-backed ETPs become available. On the other hand, Bitcoin, the pioneer in securing ETF approval, boasts a staggering market cap of over $1.24 trillion. Similarly, Ethereum, the second largest crypto by market cap, has already secured an ETF with a market cap of approximately $297.16 billion. Interestingly, it seems that well-known cryptocurrencies like Solana (SOL) and Ripple‘s XRP are already in line for potential ETF launches. Recently, CoinGape Media reported that Bitwise has filed for an XRP ETF, and they’ve even taken steps forward by filing a registration for a Delaware statutory trust, aiming for an ETF launch.
Additionally, it’s important to note that Bonk, another meme coin with a dog theme, has recently announced the launch of a BONK ETP in the United States. This action by the token’s community suggests an upcoming ETF launch. However, even with a market cap of $1.57 billion, there is uncertainty about whether a Shiba Inu ETF will be launched as soon as suggested by Whales HQ. Overall, current market data indicates that a Shiba Inu ETF may not be imminent.
SHIB & DOGE Price Performance
Right now, the SHIB coin is trading at around $0.00001785, marking an approximately 2% increase over the past day. The lowest and highest points for the coin during this period were $0.0000175 and $0.00001878 respectively. On the other hand, DOGE is trading at $0.1111, representing a roughly 1% growth in the last 24 hours. Its lowest and highest points for the same period were $0.1096 and $0.1152 respectively. These meme coins’ price rise today aligns with the broader market trend. An upcoming Shiba Inu ETF might boost the token’s price further, though such an event is unlikely in the near term.
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2024-10-07 17:02