Ether ETF is on the horizon. Once the S-1 registration forms receive approval, trading will commence promptly. Meanwhile, the community has begun speculating about upcoming crypto ETFs. One of these is the SHIB ETF. It is imperative first to meet critical requirements, which the community believes should not be a problem. Industry leaders have been reminded that getting inspired by Spot Ether ETF is a great idea, but the fact that it was a long-fought battle should not be ignored.
The SEC sets three critical requirements: liquidity plus efficiency, security measures, and transparent reporting. Additionally, a new concern has emerged regarding the FIT21 Bill. The US House of Representatives has passed it and plans to present it to the Senate and then to the President of the United States. If approved, it could change the dynamics of crypto ETFs.
Shiba Inu has several concerns to address, though. The US Securities & Exchange Commission had earlier cited that crypto ETFs come with attached concerns of fraud, market manipulation, and other malpractices. Hence, the agency has been overprotective in approving Spot Bitcoin ETF and is not taking more precautionary steps for Ether ETF applications.
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The SEC Chair, Gary Gensler, has never shown enthusiasm for crypto ETFs. His negative stance toward BTC and other cryptos is more than evident. In his defense, he does have the task of protecting investors’ interests. The COO of Bitget believes that the Shiba Inu ETF will successfully pass the test, contingent on the sentiments of SEC authorities. He further emphasizes that not only Shiba Inu but all other altcoins also stand a chance, contingent on the SEC’s decision.
Other crypto ETFs have garnered significant attention due to their recognition in the market. This is in addition to their increasing market adoption, which allows investors to generate profits without the need to own the digital asset directly.
The crypto market faces the challenge of landing stability and legality. This often affects investors’ interest, leading them to divert their funds elsewhere. In the United States, there is also growing inflation fear. By the end of the year, the Federal Reserve has set an aggressive target of 2%. Upcoming reports will shed more light on how much risk investors take and how liquidity will be driven in the cryptosphere.
There is no official tentative timeline for any crypto ETF, including Ether ETF. People generally speculate that it will receive approval by the end of the year or during the first half of 2025, which will then pave the way for other crypto-ETFs.
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SHIB is listed at $0.00002572, with a dip of 7.45% in the last 24 hours and a surge of 0.625 in the last 7 days.
