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Crypto: After Ethereum, is it Shiba Inu ETF's turn?

Sat 25 May 2024 ▪ 5 min of reading ▪ by Evans S.
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The enigmatic Shytoshi Kusama, lead developer of the Shiba Inu crypto, recently shared his thoughts on the approval of the Ethereum ETF by the U.S. SEC. In an intriguing post, he congratulates the Ethereum community while pondering the possibility of a future SHIB ETF. But what does this perspective truly represent for the world of cryptocurrencies?

Crypto Shiba

The enigma of the SHIB ETF

Shytoshi Kusama, under his mysterious pseudonym, addressed the crypto and Shibarium communities to congratulate their Ethereum counterparts following the approval of the spot ETH ETF. According to him, this advancement could potentially pave the way for a SHIB ETF, sparking a wave of enthusiasm and speculation among investors.

However, Shytoshi remained cautious. Although he mentioned the possibility of a SHIB crypto ETF, he quickly refocused attention on the immediate projects of the SHIB team. This strategic move might be aimed at maintaining a balance between speculative excitement and the reality of the Shiba Inu community’s short-term goals.

In the end, Shytoshi concluded his message with an enigmatic hashtag : #staytuned. This keyword suggests that future developments could be on the horizon, without revealing any concrete details. This subtle yet effective approach keeps interest alive while managing expectations.

The reality of ETFs in the crypto world

The approval of the Ethereum ETF by the SEC on May 24 marks a decisive turning point in the cryptocurrency industry. Following Bitcoin ETFs, this new step reinforces the legitimacy of digital assets on Wall Street and among institutional investors. However, it is crucial to understand that the approval of an ETF is no small feat and cannot apply to all cryptocurrencies, particularly “shitcoins.”

The approved Ethereum ETFs include those from giants such as BlackRock, Grayscale, VanEck, Bitwise, Fidelity, and Ark Invest. These funds, while significant, remain modest compared to the assets under management of Bitcoin ETFs. For instance, the Grayscale ETF holds around $11 billion in ETH, compared to much higher values for the Bitcoin Trust before its conversion to a spot ETF.

This dynamic reveals that even among major cryptocurrencies, the road to ETF approval is fraught with regulatory hurdles and economic challenges.

For less established cryptocurrencies like SHIB, these obstacles are even more pronounced. The reality is that not all cryptocurrencies have the robustness or recognition needed to obtain SEC approval.

The future of “shitcoins” and ETFs

The term “shitcoin” is often used pejoratively to describe cryptocurrencies perceived as worthless or speculative. However, some of these currencies, like SHIB, have managed to build a strong and active community. Despite this, the road to a SHIB ETF remains uncertain and fraught with obstacles.

The approval of an ETF for a crypto requires a solid foundation of trust, stability, and regulation. Shitcoins, by their volatile and generally speculative nature, often lack these qualities. This makes the prospect of a SHIB ETF as fascinating as it is utopian.

Despite the challenges, the Shiba Inu community’s commitment and strategic direction from leaders like Shytoshi Kusama remain crucial and should not be overlooked. They can turn obstacles into opportunities by focusing on tangible developments and strengthening the SHIB project’s foundations.

The idea of a SHIB ETF, while captivating, must be approached with caution and realism. The recent approval of the Ethereum ETF by the SEC is a major advance, but it does not guarantee a clear path for all cryptocurrencies. Investors and the community must remain vigilant and focus on long-term goals rather than quick and speculative gains.

In the end, the key to success lies in creating real and lasting value, supported by strong governance and an engaged community. So, stay tuned and continue to follow the evolution of Shiba Inu and the crypto market with a critical mind and a long-term vision.

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Evans S. avatar
Evans S.

Fasciné par le bitcoin depuis 2017, Evariste n'a cessé de se documenter sur le sujet. Si son premier intérêt s'est porté sur le trading, il essaie désormais activement d’appréhender toutes les avancées centrées sur les cryptomonnaies. En tant que rédacteur, il aspire à fournir en permanence un travail de haute qualité qui reflète l'état du secteur dans son ensemble.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.