As a seasoned crypto investor with a keen interest in the Shiba Inu community, I’m thrilled to see the ongoing push for a SHIB Exchange Traded Fund (ETF). The petition has gained significant traction within a short period, with over 10,596 signatures and growing.
Approximately 10,596 people have signed a petition in support of creating a Shiba Inu (SHIB) Exchange-Traded Fund (ETF).
The Shiba Inu ETF Push
A petition initiated on Change.org urged Michael Sonnenshein, the ex-CEO of Grayscale Investments, to explore the possibility of creating a SHIB Exchange-Traded Fund (ETF).
Significantly, July 10th is approaching as the two-month milestone for the expanding petition. During this period, it has gained significant momentum among the Shiba Inu community. Furthermore, the substantial number of signatures amassed indicates a robust desire for the proposed regulation modification.
As a crypto enthusiast and investor, I’m part of a group that believes in the transformative power of digital currencies. With diverse experiences and backgrounds, our goal is to expand investment opportunities in this space via trusted, regulated platforms.
As a crypto investor, I’ve been closely following the developments in the digital currency market. Recently, I came across a petition initiated by some enthusiasts, urging Grayscale to consider creating a Shiba Inu (SHIB) Exchange Traded Fund (ETF). They made this suggestion based on the growing popularity and potential of this particular cryptocurrency.
The proposal for a Shiba Inu ETF underscores the significant impact investment firms have had in securing approval for Bitcoin and Ethereum spot ETFs in the US market.
Grayscale persistently sought to transform its Trust fund into an ETF but was denied by the SEC. Undeterred, it took legal action and secured a court order compelling the Commission to review its ETF application in detail. Eventually, the SEC granted approval to Grayscale’s Bitcoin ETF application, alongside ten others.
Will SHIB Army Get Its Demand?
Grayscale Investments has revealed plans to transform all 17 of its cryptocurrency investment products into Exchange-Traded Funds (ETFs). This decision aligns with Shiba Inu’s long-term goal, as indicated in their recent request. Although Grayscale has yet to address the SHIB Army’s petition directly, the increasing number of signatures could prompt a quick response from the investment firm.
Likewise, Lucie, Shiba Inu’s marketing head, playfully challenged Bitcoin ETF provider BlackRock in a discussion about a possible Shiba Inu ETF. She expressed her hope that BlackRock would recognize the significance of SHIB.
As an analyst, I’d like to point out that similar to Grayscale, BlackRock has yet to issue an official statement regarding Shiba Inu. It is important to remember, however, that ultimately it is the United States Securities and Exchange Commission (SEC) who holds the power to approve or reject any proposed crypto ETF in the long run.
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2024-06-12 01:31