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Leading developer Shytoshi Kusama Hints about SHIB Spot ETF
The lively Shiba Inu community is excited as team member and head developer Shytoshi Kusama revives SHIB Spot ETF discussions. This tease comes amid mounting excitement over the SEC's approval of Ethereum Spot ETFs on Thursday, May 23.
Shiba Inu Lead Dev Discusses SHIB Spot ETFs
Shytoshi Kusama's suggestion on X (previously Twitter) has piqued Shiba Inu investors' and enthusiasts' curiosity, suggesting the project may be ready for a cryptocurrency sector shift.
Kusama first congratulated the team on the newly authorized Ethereum spot ETFs in the X article. He said, “Congrats to our friends at Ethereum on the ETF approval.”
He also wondered whether the discovery may lead to SHIB, specifically a spot ETF. The primary developer has let the Shiba Inu community or ShibArmy decide while he works on future improvements.
Since Bitcoin exchange funds were approved in January, crypto enthusiasts have discussed a SHIB spot ETF. In February, the team discussed introducing SHIB items in its 10th magazine issue. The community was curious and hopeful when the cover page said “Wen SHIB ETF”.
Many have been questioning, “Why not?” even though the SHIB magazine did not cover this prospective investment offering.
Current initiatives may make SHIB a good option for institutional investment, notwithstanding industry reservations about its short-term viability. SHIB is also better off than other cryptocurrencies that are having problems being classed as commodities or securities since the SEC has never called it a security.
Shiba Inu previously petitioned Grayscale Investments, the biggest asset management organization, for the items. Change.org said that the petition targeted former Grayscale CEO Michael Sonnenshein.
The team highly urges the former CEO to apply for a SHIB spot ETF as the token meets the Howey test to be a non-security. They believe that without regulatory issues, the firm can go ahead more easily.
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