The interest around exchange traded funds (ETFs) has been rising without a stop. Several have been diving into this sector with altcoins. While firms have already filed for prominent altcoins like Dogecoin (DOGE), Litecoin (LTC), XRP, Solana (SOL) ETFs, Shiba Inu did not want to be left behind. The community behind the meme coin network was seen pitching the idea of filing for a Shiba Inu ETF to firms like BlackRock and Grayscale Investments.
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Here’s Why Shiba Inu ETF Could Be A Game Changer
Through a recent tweet, Shibarium Updates revealed several reasons on why firms like Grayscale and BlackRock should launch a SHIB ETF in the United States. In the post, the community member highlights why Shiba Inu could be a game changer in the sector.
The X post notes how Shiba Inu ETFs have enormous market potential because of their robust community. Along with this, high liquidity, and retail appeal of SHIB also stands out. While its affordability draws in retail investors, Shiba Inu’s ecosystem powered by Shibarium expands its use cases in gaming and DeFi. Its worldwide reach and ESG or Environmental, Social and Governance alignment further reinforce the token’s appeal. Given the success of crypto-related ETFs, SHIB may follow in the footsteps of Ethereum (ETH) and Bitcoin (BTC). Investors would be drawn to a diversified cryptocurrency offering that included SHIB and BONE. Last but not least, introducing a SHIB ETF will establish issuers such as BlackRock and Grayscale as progressive industry leaders, leveraging sustained growth and growing institutional demand.
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How Is The Meme Coin Trading Right Now?
The entire cryptocurrency community was seen pocketing gains. Shiba Inu witnessed a 3.30% surge over the past 24 hours. At the time of writing, the second largest meme coin was trading at $0.00001326. If a SHIB ETF is launched in the US, the asset could record a major rise and potentially achieve the 1 cent milestone.
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