The U.S. Securities and Exchange Commission (SEC) made a significant move for the cryptocurrency sector by authorizing eight Ethereum exchange-traded funds (ETFs) on May 23, 2024. This milestone was celebrated by the Ethereum community, including Shytoshi Kusama, the lead developer of Shiba Inu. Kusama not only congratulated the community but also hinted at the possibility of a Shiba Inu (SHIB) ETF in the future.
Kusama expressed his excitement for the Ethereum milestone and posed the question, “Does this pave the way for #SHIB?” This statement from the lead developer has sparked speculation among the Shiba Inu community, suggesting that the meme coin may follow Ethereum’s footsteps and launch its own ETF. Kusama further mentioned that there are big enhancements planned for the Shiba Inu ecosystem, keeping the community eagerly anticipating the future developments.
The approval of the Ethereum ETFs by the SEC came as a surprise, considering the lack of communication from the agency with issuers recently. The ETFs will be available on major exchanges such as CBOE, NYSE Arca, and NASDAQ, providing a broader range of investors access to Ethereum.
However, despite the regulatory approval for the 19b-4 filings, the Ethereum ETFs cannot begin trading until issuers receive clearance for their S-1 registration statements. Bloomberg analyst James Seyffart highlighted that although it is possible to expedite the process within a few weeks, it typically takes at least three months.
In other crypto news, the market cap of BONK has surpassed FLOKI, reaching $2.5 billion. This development has generated curiosity about what lies ahead for BONK.
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