- Congrats to Ethereum on its ETF clearance, Shytoshi Kusama teases a possible SHIB ETF.
- With hashtag #staytuned, Shytoshi Kusama turns his attention to the ongoing projects of the SHIB team.
The anonymous head of the Shiba Inu team, Shytoshi Kusama, recently wished the Ethereum community congratulations on the US Securities and Exchange Commission (SEC) approval of the Ethereum spot ETF.
This achievement has sparked talks on the possibility of Shiba Inu (SHIB) eventually having a spot exchange-traded fund of similar kind.
Congrats to our frens at @ethereum on the ETF APPROVAL! Does this pave the way for #SHIB? I'll let you decide… I'll stay focused on what we have coming. #STAYTUNED
— Shytoshi Kusama™ (@ShytoshiKusama) May 23, 2024
Shytoshi’s Philosophy and Interests
With the SEC giving the ETH ETF the all-clear, Shytoshi congratulated the friends of SHIB and Shibarium at Ethereum in his article. He excited the community by implying quietly that a SHIB ETF would be approved in the future.
But Shytoshi soon turned his attention back to the SHIB team’s ongoing work, stressing that although the community is welcome to debate this possible development. He ended his post with the fascinating hash tag #staytuned.
SEC Approval and Market Effect
The SEC approved the spot Ethereum ETF filings that many Wall Street firms had filed earlier this year on Thursday, May 24. A major turning point for the cryptocurrency sector, this clearance came six months after the government approved spot Bitcoin ETFs in January.
Being the second-biggest cryptocurrency by market value, Ethereum has regarded its clearance as a significant turning point. This is the last hurdle until Wall Street completely accepts cryptocurrency assets, according to tweets from venture investor Anthony Pompliano.
Market Performance of SHIB
CoinMarketCap data shows that the price of SHIB at the time of writing is at $0,00002393, down 6.20% in the previous day. Even with this brief drop, SHIB had gained 3.82% in the last seven days.
Meanwhile, ETHNews previously also reported on a notable spike in SHIB’s burn rate, which shot up by 579% and consumed 9.83 million tokens.
