Shiba Inu leader Shytoshi Kusama has hinted that SHIB ETFs may be introduced in the future. He polled the SHIB community and asked for their views on the matter. Kusama also hailed the historic approval of Spot Ethereum ETFs on Thursday, May 23.
Shiba Inu leader hails Ethereum ETF!
cryptokoin.comAs you follow from , the SEC has approved 8 Ethereum ETFs. This development has raised hopes in the fight against regulators in the cryptocurrency market. Among those who reacted to this news was Shiba Inu lead developer Shytoshi Kusama. Moreover, the developer hinted at the possibility of a Shiba Inu (SHIB) ETF. He also talked about major future upgrades for the ecosystem.
Kusama posted on X to congratulate Ethereum on its milestone. ON THAT note, congratulations to our friends at Ethereum on the ETF approval!” said. He also teased a potential Shiba Inu ETF in the future. “Does this pave the way for SHIB?” asked. However, there was no clear indication regarding the same as let the community decide on this issue.
Shytoshi questions Kusama’s SHIB ETF!
Shiba Inu’s Kusama says, “I’ll let you decide… I’ll stay focused on what’s coming.” said. He also hinted that they will be making various updates that instill more confidence in the SHIB ecosystem. In addition, this message sparked speculation among Shiba Inu investors and enthusiasts. In this context, he suggested that the meme coin could follow in Ethereum’s footsteps with its own ETF.
The SEC’s approval of Ethereum ETFs was unexpected given the agency’s recent inaction on engaging with issuers. The eight approved ETFs include offerings from financial heavyweights such as VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise. Major exchanges such as CBOE, NYSE ARCA and NASDAQ will list these ETFs. It will also increase Ethereum’s accessibility to a wider range of investors.
There is still a way to trade Ethereum ETF!
However, despite regulatory approval for 19b-4 filings, Ethereum ETFs cannot begin trading until issuers receive approval for S-1 registration statements. This process can be accelerated in a matter of weeks, but has historically taken three months or longer, Bloomberg analyst James Seyffart said. So, a Shiba Inu ETF won’t be a reality anytime soon either. However, the situation still remains unclear.
On the other hand, an important factor behind this approval was political pressure from US lawmakers. Earlier, a group of House members, including Majority Whip Tom Emmer and New Jersey Democrat Josh Gottheimer, sent a letter to SEC Chairman Gary Gensler requesting approval of these ETFs. Meanwhile, Shytoshi Kusama’s tweet also hinted at news of major future endeavors for the Shiba Inu. But he remained cryptic about the details. This fueled excitement within the SHIB community. Moreover, a SHIB ETF like the one Kusama mentioned could legitimize Shiba Inu and mark a major milestone.
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