The Shiba Inu community has gained attention by discussing a potential move into the “ETF world” in Shib Magazine. This discussion was important as it demonstrated the Shiba Inu’s potential to make a broader impact in the investment world. SHIB is increasingly recognized not only as a cryptocurrency but also as an investment tool. Therefore, initiatives such as the Shiba Inu ETF could be an important step in expanding the asset and increasing its value.
The SHIB community has begun to identify and implement steps to be taken towards this goal. To move in this direction, they started a petition calling on Grayscale Investments CEO Michael Sonnenshein to launch a Shiba Inu ETF. The meme coin community attempted to collect signatures on the change.org platform to gain support from the broader crypto community. The campaign stands out as a step that will make Shiba Inu more known in the cryptocurrency world and attract the attention of investors.
In that campaign, the Shib community requested Grayscale analyze the feasibility, market demand, and positive impact of launching the Shiba Inu ETF. They backed up their claims by claiming that last year, according to Google Trends data, the Shiba Inu (SHIB) ranked second in search popularity in the United States. They also claim that Shiba Inu ensures adherence to regulatory standards and security as it is an ERC-20 token on the Ethereum network.
Led by marketing leader Lucie, the SHIB team aimed to reach a wider audience by actively using social media platforms such as Twitter/X. Lucie encouraged people to sign the petition, asking for support for the Shiba Inu ETF.
The petition has collected over 600 signatures so far. The Shiba Inu ETF could be an important step that will increase the popularity and acceptance of the Shiba Inu, making it more known in the cryptocurrency world. It may also have the potential to increase the value of the asset, increasing investor interest in the Shiba Inu. Therefore, anyone who supports this initiative of the Shiba Inu community will be contributing to an important milestone in the cryptocurrency world. But how likely is it that such an ETF will launch?
Grayscale Investments regularly evaluates top cryptocurrencies to offer potential products across a variety of criteria. Moreover, experts have previously explained that the US Securities and Exchange Commission (SEC) considers crypto availability at regulated venues such as the Chicago Mercantile Exchange (CME) as a criterion for approval. In the XRP ETF case, experts also evaluated the necessity of the futures market on the Chicago Mercantile Exchange (CME) for ETF approval. Therefore, the launch of the SHIB ETF seems unlikely.
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