Ripple to Face Another Lawsuit, SHIB Army Petitions Grayscale to Launch ETF, Major Bitcoin Correction After Halving Predicted by Top Analyst...
In a surprising development, the Shiba Inu community created a petition, requesting the Grayscale team to consider establishing a Shiba Inu Exchange Traded Fund (ETF). Justifying their plea, the members of the Shiba Inu army provided the following arguments: first, they stated that the SHIB token notably satisfies the Howey test, thus affirming its nonsecurity status. Second, per recent Google Trends data, SHIB is the United States' second favorite crypto after Bitcoin, which shows the asset's popularity and market's readiness for an ETF centered on SHIB. Last but not least, proponents of the SHIB ETF believe the product will broaden accessibility to Shiba Inu for every class of investor. At the moment of writing, the petition has scored 1,963 signatures, gaining significant traction. It remains to be seen whether Whether Grayscale Investments will respond to the SHIB community's demand for an ETF.
