Shiba Inu lead developer hints at SHIB spot ETF
The Shiba Inu community is buzzing with excitement as team member and lead developer, Shytoshi Kusama, has sparked discussion about a SHIB Spot ETF. This hint comes amid growing excitement surrounding the approval of the Ethereum Spot ETFs by the United States Securities and Exchange Commission (SEC) on Thursday, May 23.
Kusama’s directions
The suggestion by Shytoshi Kusama on the In his post, Kusama congratulated the Ethereum team on the approval of the ETFs and then asked whether this development could pave the way for a SHIB spot ETF.
Long running discussion
The discussion about a SHIB spot ETF has been going on in the crypto landscape for quite some time, especially since the approval of exchange funds for Bitcoin in January this year. In February, the Shiba Inu team sparked conversation about the possible introduction of such products in the 10th edition of SHIB magazine.
Petition to Grayscale
Shiba Inu has taken concrete steps to explore this possibility by submitting a petition to Grayscale Investments, the largest asset manager. The petition targeted former Grayscale CEO Michael Sonnenshein and highlighted four key justifications for considering a spot ETF for SHIB.
What can investors expect?
Although some observers have expressed doubts about SHIB’s short-term viability, the success of ongoing projects could establish SHIB as a strong candidate for institutional investment. With the Shiba Inu community that is active exerts pressure for a SHIB spot ETF, the question remains on everyone’s lips: “When will the SHIB ETF come?”
