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🔴 BREAKING NEWS⛔

Shiba Inu Community Petitions Grayscale to Launch "SHIB ETF " 🌅 #TrendingTopic #SHIB2024 🕊🕊

The Shiba Inu (SHIB) community is being rallied to sign a petition requesting Grayscale Investments to consider the launch of Shiba Inu ETF.
The petition, now listed on the Change.org platform,  began on February 25 and was specifically directed to Grayscale CEO, Michael Sonnenshein. The publicity for the Shiba Inu ETF proposal is being spearheaded by pseudonymous community builder SHIB BPP.
Need for Shiba Inu ETF

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The emergence of the spot Bitcoin ETF triggered a paradigm shift in the crypto ecosystem with investors now anticipating a more widespread suite of options.
Asset management firms have already filed applications for spot Ethereum ETF and the clamor for a Shiba Inu ETF is the first collective push for a meme coin.
This development comes a month after the SHIB Magazine featured a thought-provoking question in one of its issuances: “Wen SHIB ETF?” The question triggered community speculation, with the recent petition one of the products of this speculation.
The petition is already garnering support from members of the Shiba Inu ecosystem having received 619 Signatures out of the required 1,000. The proponents of the Shiba Inu ETF gave four major reasons to justify the need for the product.

The first is the Google Trends data that positioned Shiba Inu as the second most popular cryptocurrency in the United States.
The sponsors of the petition argued that this popularity indicates its ecosystem’s readiness for a SHIB-based ETF. Secondly, they argue that with a SHIB ETF, there will be ease of accessibility to investors, a move that will simplify the embrace of the token.
They argued that, being an ERC-20 token
#cryptonews #Halving #BTC