Shiba Inu ETF Incoming? Petition Nears 10,000 Goal, Grayscale Yet to Respond

Exciting news for Shiba Inu (SHIB) enthusiasts! The SHIB community is on the verge of achieving a major milestone in its ETF petition drive, with just under 300 signatures needed to hit the 10,000 target. Heber Mayen, a key figure in the community, shared this update on X.

Could this be the key to wider adoption? Read on to find out the latest developments and what it might mean for the future of Shiba Inu.

SHIB BPP Leads the Charge

This latest development follows strong advocacy from SHIB BPP and other community members pushing the petition aimed at Grayscale Investments CEO Michael Sonnenshein. Since its launch, SHIB BPP and fellow supporters have tirelessly encouraged others to sign up, steadily driving the petition towards its ambitious goal.

Closing In on the Goal

The petition currently stands at 9,717 signatures, a mere 283 away from the coveted 10,000 mark. What started as a modest goal of 1,000 signatures by February 26 has exceeded all expectations, with the community’s show of solidarity surpassing initial milestones. Notably, over the past week, 140 new supporters have joined the cause. Additionally, influential figures like Lucie have boosted the petition’s visibility and raised funds to elevate its presence on Change.org.

Despite the community’s unwavering efforts, Grayscale Investments has yet to respond to the SHIB ETF petition. The collective aim is to persuade Grayscale to introduce an ETF specifically for SHIB, opening up more investment opportunities for Shiba Inu enthusiasts worldwide.

Strategic Focus: Why Grayscale?

The SHIB community has chosen to focus on Grayscale due to its significant role in the crypto ETF landscape. With successful conversions of Bitcoin and Ethereum Funds into ETFs, Grayscale has set the stage for further product offerings. While Grayscale plans to transition all 17 crypto-related products into spot ETFs, Shiba Inu has not yet been included.

Making the Case for SHIB ETF

Citing evidence from Google Trends data highlighting SHIB’s popularity and demand, the petition emphasizes the need for an SHIB ETF. Introducing such a product could provide a regulated and accessible investment avenue for SHIB enthusiasts, strengthening the token’s stability and fostering wider adoption. With optimism running high, the community believes this concerted effort will gain the recognition it deserves.

If Grayscale acts on the SHIB ETF proposal, it could propel Shiba Inu further into mainstream financial markets.

Do you think Grayscale will consider the SHIB ETF petition? Let us know your thoughts.

Also Read : Top Bitcoin Investor Predicts 1,105% Price Jump for SHIB Price; Here’s Why