Shiba Inu Lead Developer Shytoshi Kusama Hints At SHIB Spot ETF

The
ever-vibrant
Shiba
Inu
community
is
buzzing
with
excitement
as
the
project’s
team
member
and
lead
developer,
Shytoshi
Kusama,
has
reignited
discussion
regarding
a
SHIB
Spot
ETF.

This
tease
comes
in
the
midst
of
growing
enthusiasm
surrounding
the
approval
of
the


Ethereum
Spot
ETFs

by
the
United
States
Securities
and
Exchange
Commission
(SEC)
on
Thursday,
May
23. 

Shiba
Inu
Lead
Dev
Sparks
SHIB
Spot
ETFs
Discussion

Shytoshi
Kusama’s


hint

on
the
X
(formerly
Twitter)
platform
has
fueled
interest
and
confidence
among
Shiba
Inu
investors
and
aficionados,
which
indicates
that
the
project
might
be
preparing
for
a
big
move
in
the
cryptocurrency
industry.

In
the
X
post,
Kusama
at
first
expressed
his
pleasure
towards
the
recently
approved
Ethereum
spot
ETFs,
congratulating
the
team
on
the
development.
“Congrats
to
our
friends
at
Ethereum
on
the
ETF
approval,”
he
stated.

He
further
questioned
if
the
notable
development
could
pave
the
way
for
SHIB,
particularly
a
SHIB
spot
ETF.
However,
the
lead
developer
has
left
the


Shiba
Inu

community
or
ShibArmy
to
decide
on
the
subject,
while
he
focuses
on
upcoming
future
updates.

It
is
worth
noting
that
the
discussion
about
a
SHIB
spot
ETF
has
been
observed
in
the
crypto
landscape
since
the
approval
of
the


exchange
funds
for
Bitcoin

in
January
this
year.

In
February,
the
team
raised
a
conversation
about
the
potential
introduction
of
the
products
for
SHIB
in
its
10th
edition
of
the
SHIB
magazine.
The
query
“Wen
SHIB
ETF”
was
clearly
displayed
on
the
cover
page,
igniting
curiosity
and
hope
within
the
community.

Although
the
SHIB
magazine
did
not
include
a
specific
section
on
this
potential
investment
product,
many
have
been
aggressively
asking,
“Why
not?”

Despite
doubts
from
certain
industry
observers
over
its
short-term
sustainability,
the
accomplishment
of
current
projects
may
establish
SHIB
as
a
strong
candidate
for
institutional
investment.

Also,
SHIB
is
in
a
better
position
than
some
other
cryptocurrencies
that
are
having
trouble
being
classified
as
commodities
or
securities
because
the
SEC
has
never
accused
it
of
being
a
security.

SHIB
Spot
ETF
Petition
To
Grayscale

Shiba
Inu
has
thus
far
displayed
its
efforts
in
making
the
idea
a
possibility
by
requesting
the
products
through
a


petition

to
Grayscale
Investments,
the
largest
asset
management
company.
According
to
details
from
Change.org,
the
petition
was
aimed
at
former
Grayscale’s
Chief
Executive
Officer
(CEO)
Michael
Sonnenshein.

Given
that
the
token
presently
passes
the
Howey
test
to
be
classified
as
a
non-security,
the
team
strongly
advises
the
former
CEO
to
apply
for
a


SHIB

spot
ETF.
This
is
due
to
their
belief
that
the
company
will
find
it
easier
to
move
forward
as
it
not
burdened
by
regulatory
difficulties.

Shiba
Inu’s
team
laid
out
four
key
justifications
in
the
petition
for
why
a
spot
ETF
for
SHIB
needs
to
be
taken
into
consideration.
These
include
Market
Demand
Indicators,
Enhancing
Accessibility
and
Investment
Exposure,
Adherence
to
Regulatory
Standards
and
Ensuring
Security,
and
Leadership
in
the
Market.

Featured
image
from
iStock,
chart
from
Tradingview.com