Here’s the latest update on the number of votes received for the Shiba Inu ETF petition. In just a short span of time, the petition has garnered an impressive 5,761 signatures. The Shiba Inu community is showing great determination and resilience in their pursuit to have Grayscale Investments, a leading asset manager, launch an ETF product specifically for SHIB.
The petition, titled “Proposal for a Shiba Inu (SHIB) ETF by Grayscale Investments,” was initiated by SHIB BPP on February 25 and has since gained significant momentum. At the end of February, the petition had already gathered 2,431 signatures. However, the number has now increased to 5,761, with a new target set at 7,500.
Notably, over the past 24 hours, 695 individuals have signed the petition, demonstrating the ongoing efforts from prominent members within the Shiba Inu community. To further drive support, some enthusiasts have personally contributed $20 each, thereby increasing the petition’s exposure on the Change.org platform.
In light of Grayscale’s history of offering investment products focused on crypto assets, the proposed Shiba Inu ETF is part of a broader strategy to provide institutional investors with indirect exposure to SHIB. Grayscale’s portfolio already includes investment products for various cryptocurrencies like Bitcoin, Ethereum, Solana, Bitcoin Cash, Litecoin, and Ethereum Classic. In fact, Grayscale has recently converted its Bitcoin Trust to a spot Bitcoin ETF and aims to do the same with its Ethereum Trust.
Despite some critics questioning the petition’s potential impact, community members remain optimistic, pointing to previous successes such as Shiba Inu’s listings on popular platforms like Coinbase, Kraken, and Robinhood. They believe that their collective effort can persuade Grayscale to launch an ETF for SHIB, but only time will tell if their endeavors will prove fruitful.