The enigmatic leader of the Shiba Inu team known by the pseudonym Shytoshi Kusama sends congratulations to the Ethereum community on the recent timely approval of the ETF by the US Securities and Exchange Commission.
The enigmatic leader of the Shiba Inu team known by the pseudonym Shytoshi Kusama sends congratulations to the Ethereum community on the recent timely approval of the ETF by the US Securities and Exchange Commission.
He referred to the possible opportunity for the same thing to happen with a SHIB spot ETF in the future.
SHIB ETF Outlook and Shytoshi’s Current Focus
The SHIB leader published a post congratulating SHIB and Shibarium friends on Ethereum the moment the ETH ETF finally received the green light from the SEC regulator. He wondered if that could pave the way for SHIB, and perhaps also hinted that a SHIB ETF is likely to be approved in the future.
However, without spending much time discussing this hypothetical event, without further ado, he stated that this is something the community needs to discuss, but he will stay focused on what’s next for the SHIB team. He concluded his message with an intriguing hashtag, #staytuned.
SEC approves Ethereum ETFs
On Thursday, May 24, The SEC finally issued approval for the one-time Ethereum ETF filings filed by several Wall Street firms earlier this year. The ETFs were approved six months after the regulator gave the green light to Bitcoin ETFs in mid-January.
Ethereum is the second-largest cryptocurrency in terms of market capitalization, and this approval marks a crucial turn for the crypto industry after BTC spot ETFs. Venture capitalist Anthony Pompliano recently tweeted that this step would be the last dam to break before Wall Street fully embraces crypto assets.
Yuri MolchanApproved Ethereum ETFs include those introduced by BlackRock, Grayscale (a spot ETF converted from its Ethereum Trust), VanEck, Bitwise, Fidelity, and Ark Invest.
These Ethereum spot ETFs are expected to be much smaller in terms of assets under management. For example, the Grayscale ETF holds approximately $11 billion in ETH, which is much smaller than what its Bitcoin Trust held before it became the spot ETF.
Earlier this month, Ark, Grayscale and Fidelity were forced to adjust their ETF filings to take the bets off them, as the SEC recently sued two US-based exchanges (Coinbase and Kraken) for their exchange services. crypto betting, referring to staked assets and unregistered securities.
