Shiba Inu Lead Developer Explores Potential for SHIB ETF

SHIB Marketing Lead Challenges Critics

Shytoshi Kusama, the pseudonymous Shiba Inu lead developer, questioned if the SEC’s approval of Ethereum spot-based ETFs could pave the way for a SHIB ETF, stirring debate. This conversation arises from the recent approval of Ethereum ETFs, prompting enthusiasts to consider which crypto asset might be next.

Kusama urged his followers to share their views on a SHIB ETF but gave no definite answer. Despite the SEC not classifying Shiba Inu as a security, no asset manager has shown interest in filing for a SHIB ETF. Earlier this year, the Shiba Inu community launched a petition to convince Grayscale to file for such an ETF. Although it gathered thousands of signatures, it has yet to gain the asset manager’s attention.

Related article: ShiBulls: 10,000 Hybrid Bulls Invade ShiBarium

Focus On Upcoming Projects

Meanwhile, Kusama focuses on upcoming Shiba Inu projects and congratulated the Ethereum community on their ETF approval. The Shiba Inu ecosystem’s official X handle also celebrated this milestone, calling it a significant win for the crypto industry. This approval could enhance financial inclusion for Shiba Inu members by making it easier for investors to gain crypto exposure through Ethereum ETFs.

The Shiba Inu community highlighted the impact of both SHIB and Ethereum communities, emphasizing their roles in driving change within the industry. They believe that Ethereum’s success with ETFs opens new doors for the Shiba Inu community as well.

Related article: SHIB Burn Rate Surges with 12.7 Million Shiba Inu Destroyed 

Preparing For The Blockchain Futuristic Conference

Looking ahead, the Shiba Inu ecosystem team is gearing up for the 2024 Blockchain Futuristic Conference in Toronto, where they will be the title sponsor. At the event, Shiba Inu will showcase its ecosystem projects, including Shibacals and Shibverse, at a dedicated booth. 

Additionally, Shiba Inu’s partner, K9 Finance DAO, plans to attract more developers to Shibarium with a hackathon at the conference. Through these developments, the Shiba Inu community aims to strengthen its position in the crypto world and explore new growth opportunities.

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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