Shiba Inu (SHIB) ETF Initiative: ShibArmy Launches Petition Campaign

Discover how ShibArmy, the global Shiba Inu community, is rallying for the launch of a SHIB ETF with Grayscale.

A movement that not only highlights the growing demand for SHIB but also emphasizes the potential benefits such as enhanced convenience, regulatory compliance, and market leadership.

Join the signature campaign today and contribute to a milestone in cryptocurrency investment.

ShibArmy Calls on Grayscale for the Launch of a SHIB ETF

The global community supporting Shiba Inu (SHIB), known as ShibArmy, initiated a petition on February 26, 2024, aiming to persuade Grayscale, a globally renowned digital asset management firm, to launch a SHIB Exchange-Traded Fund (ETF).

This effort is facilitated through the website change.org, where signatures are being collected online. Currently, the campaign has garnered 1,534 signatures out of its 2,500 target.

Participating in the change.org petition is straightforward; anyone can sign with a single click after creating an account. Account creation is possible with Google, Facebook, and other accounts, accessible through the "Login" button on the official change.org website.

Highlighting the Benefits of a SHIB ETF

The petition emphasizes urging Grayscale to consider launching a SHIB ETF, evaluating its viability, market demand, and potential impact.

ShibArmy outlines the importance of a SHIB ETF, stating it could satisfy investor demand, promote cryptocurrency adoption, and play a significant role in investment portfolios. The reasons to consider a SHIB ETF include:

• Market Demand: Data from Google Trends between February 25, 2023, and February 25, 2024, show SHIB as the second most popular cryptocurrency in the United States, after BTC, surpassing ETH and XRP in search popularity. This indicates a clear social interest and appeal for SHIB, suggesting the market is ready for a SHIB ETF launch.
• Enhanced Convenience and Investment Opportunities: An ETF could simplify the investment process into SHIB, removing barriers related to direct purchasing and wallet management. Such a product would be especially appealing to investors seeking a regulated and familiar investment environment.
• Regulatory Compliance and Security: As an ERC-20 token on the Ethereum blockchain, Shiba Inu meets the Howey Test criteria and does not qualify as a security under U.S. law. This collective growth model could enhance investor trust by ensuring regulatory compliance, potentially fostering long-term adoption and stability.
• Market Leadership: Leveraging Shiba Inu's established popularity and market demand, Grayscale could not only meet investor needs but also lead the market with new cryptocurrency investment products.

ShibArmy's Continued Efforts

ShibArmy actively promotes SHIB's growth through community-led initiatives, including campaigns to get exchanges to support "BONE" and "Shibarium."

A notable campaign was the petition for SHIB's listing on Robinhood, a popular U.S. investment app, which was successfully listed in April 2022. Reports also indicate Robinhood's significant holdings of SHIB.

While reaching the signature goal does not guarantee the launch of a SHIB ETF, a large number of signatures could bring the realization of a SHIB ETF closer to fruition.

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