Shiba Inu Spot ETF Plan Unveiled by SHIB Founder, Explores Community Discussion and Developments

SHIB ETF prospects and community Focus

In his congratulatory message, Kusama hinted at a possible SHIB ETF sparking discussions within the community, though Kusama stressed that his main focus remains on the upcoming projects for Shibarium and the broader Shiba Inu ecosystem.

Remarking on the possibility that this development could pave the way for a SHIB spot exchange-traded fund in the future. While he acknowledged the potential significance of such an event, Kusama emphasized that his primary focus remains on the ongoing and upcoming projects within the SHIB ecosystem.

Kusama encouraged the community to engage in discussions about the future, such as projects for Shibarium and the broader Shiba Inu ecosystem.

Ethereum ETF approval

On Thursday, May 24, the SEC granted approval for spot Ethereum ETF applications submitted by several prominent Wall Street firms. This decision marks a significant shift in the crypto landscape, potentially accelerating Wall Street’s acceptance of crypto assets.

Among the approved Ethereum ETFs are those from financial heavyweights such as BlackRock, Grayscale, VanEck, Bitwise, Fidelity, and Ark Invest.

These ETFs, while significant, are expected to manage fewer assets compared to their Bitcoin counterparts.

ETF Regulatory adjustments and challenges

The path to approval was not without challenges. Earlier this month, Ark Invest, Grayscale, and Fidelity had to modify their ETF filings to exclude staking services in response to the SEC’s legal actions against U.S.-based exchanges Coinbase and Kraken over their crypto staking services.