BlackRock And Grayscale Urged to Consider A Shiba Inu (SHIB) ETF For These Reasons
The Shiba Inu (SHIB) community is ramping up efforts to advocate for a SHIB-focused exchange-traded fund (ETF), calling on major asset management firms like BlackRock and Grayscale Investments to take action.
Momentum behind the initiative has been growing rapidly, with a Change.org petition directed at Grayscale CEO Michael Sonnenshein surpassing 16,666 signatures as of press time.
Meanwhile, influential SHIB group Shibzens have recently outlined compelling reasons why SHIB deserves ETF status, drawing parallels to the recent success of Bitcoin and Ethereum ETFs.
As per the group, one of the strongest arguments for a SHIB ETF is the cryptocurrencys massive and highly engaged community. With millions of holders actively participating in the SHIB ecosystem, it argued that the token enjoys a loyal user base that could drive demand, liquidity, and long-term price stability, key factors for a successful ETF.
Shiba Inus Layer-2 blockchain, Shibarium, further strengthens its case. Since its launch in August 2023, the group emphasized that Shibarium has introduced real-world utility by powering decentralized finance (DeFi) applications, gaming projects, and payment solutions. The network also supports ecosystem tokens like BONE, used for gas fees, and TREAT, which could be incorporated into a diversified SHIB ETF, expanding its investment appeal.
Another major factor is affordability. Unlike Bitcoin and Ethereum, which can be expensive for small investors, SHIBs low price per token makes it an accessible entry point for retail traders. This inclusivity allows a broader investor base to gain crypto exposure, while SHIBs high trading volume and strong liquidity provide a solid foundation for institutional ETF products.
A SHIB ETF could also align with Environmental, Social, and Governance (ESG) investment strategies. The Shib Karma Foundation, a philanthropic initiative within the SHIB ecosystem, highlights the communitys commitment to social good. Additionally, SHIBs growing adoption across industries, including gaming and payments, demonstrates its increasing real-world relevance and utility.
This push comes amid significant political and institutional shifts that signal a growing acceptance of cryptocurrency, further strengthening the case for a SHIB ETF. Former U.S. President Donald Trump recently acknowledged major digital assets like XRP, Solana, and Cardano, fueling speculation that increased regulatory clarity could benefit altcoins like SHIB.
On Friday, the President hosted the first-ever White House Crypto Summit, bringing together key figures in the crypto industry. Among them was Robinhood CEO Vlad Tenev, a well-known advocate for meme-based assets whose involvement has further bolstered optimism. The SHIB community led by lead developer Shytoshi Kusama have expressed optimism that Tenev could play a role in advocating for the inclusion of meme coins like SHIB and Dogecoin in the discussions.
That said, while BlackRock and Grayscale have yet to submit a formal application for a SHIB ETF, the precedent set by Bitcoin and Ethereum ETFs proves that crypto-based investment products are viable. With strong community backing, increasing adoption, and favorable market trends, Shibizens believe SHIB is next in line.
Text source: ZyCrypto
