Is a Shiba Inu ETF on the Horizon Petition Approaching 10000 Signatures No Response from Grayscale Yet

Key Points
The Shiba Inu community is making significant progress towards its goal of 10,000 signatures for a SHIB ETF petition.
Community leaders and supporters are driving the success of the petition, aiming to persuade Grayscale Investments to create a Shiba Inu ETF for increased acceptance and investment opportunities.
Exciting news for Shiba Inu (SHIB) fans! The SHIB community is very close to reaching a major milestone in their ETF petition drive, with just under 300 signatures needed to hit the 10,000 target. Heber Mayen, a prominent figure in the community, shared this update on X.
300 signatures away to reach 10k
#SHIB
ETF. LFG
#SHIBARMY
https://t.co/x0FAz5emR4
— Heber Mayen (@HeberMayen)
June 8, 2024
Could this be the breakthrough for wider adoption? Keep reading to discover the latest developments and the potential impact on the future of Shiba Inu.
SHIB BPP Takes the Lead
This recent progress stems from the strong advocacy of SHIB BPP and other community members who are driving the petition directed at Grayscale Investments CEO Michael Sonnenshein. Since its launch, SHIB BPP and its supporters have been actively promoting the petition, steadily pushing towards its ambitious target.
Approaching the Finish Line
The petition currently stands at 9,717 signatures, just 283 away from the coveted 10,000 milestone. Originally aiming for 1,000 signatures by February 26, the community has surpassed all expectations, showing remarkable solidarity and surpassing initial goals. Notably, 140 new supporters have joined the cause in the past week. Additionally, influential figures like Lucie have raised awareness and funds to boost the petition’s visibility on Change.org.
Despite the community’s persistent efforts, Grayscale Investments has not yet responded to the SHIB ETF petition. The collective goal is to persuade Grayscale to launch an ETF specifically for SHIB, providing more investment opportunities for Shiba Inu enthusiasts worldwide.
Why Grayscale?
The SHIB community is targeting Grayscale due to its significant presence in the crypto ETF market. With successful conversions of Bitcoin and Ethereum Funds into ETFs, Grayscale has paved the way for further product offerings. While Grayscale plans to transition all 17 crypto-related products into spot ETFs, Shiba Inu has not been included yet.
Advocating for SHIB ETF
Citing Google Trends data showcasing SHIB’s popularity and demand, the petition underscores the necessity of an SHIB ETF. Introducing such a product could offer a regulated and accessible investment option for SHIB enthusiasts, enhancing the token’s stability and encouraging broader adoption. With optimism prevailing, the community believes this joint effort will gain the recognition it merits.
If Grayscale proceeds with the SHIB ETF proposal, it could propel Shiba Inu into mainstream financial markets.
Do you think Grayscale will consider the SHIB ETF petition? Share your thoughts with us.
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