The post Shiba Inu Can Rise 9,472% to $0.001477 if It Gets 50% of Spot Bitcoin ETF Inflows appeared on BitcoinEthereumNews.com.

Shiba Inu has the potential to pump 9,472% to a new ATH of $0.001477 if it captures just 50% of the capital inflows recorded by spot Bitcoin ETF products. Following years of constant denials and postponements, the U.S. SEC approved the trading of spot Bitcoin ETFs in January. These products have so far recorded immense success, commanding inflows worth billions of dollars. Since Jan. 10, the spot Bitcoin ETF products have seen $14.76 billion in total netflows, per data from Farside Investors. This figure had initially crossed the $15 billion mark. However, with the ongoing market downtrend, cumulative net outflows have dropped below this mark. Nonetheless, the $14.76 billion net inflows over the course of seven months demonstrate a remarkable feat.  Amid the success of spot Bitcoin ETFs, discussions around the possibility of ETFs tracking other cryptocurrencies have emerged. Notably, some asset managers have already filed for Ethereum ETFs, with their 19b-4 filings recently approved by the SEC. The regulatory agency still needs to approve the S-1 filings from these firms for the products to begin trading.  Calls for a Spot Shiba Inu ETF Late last month, asset management firm VanEck filed to launch the first-ever Solana ETF in the U.S. market. Meanwhile, amid the ETF craze, Shiba Inu community members have championed the launch of a Shiba Inu ETF. The community has petitioned asset manager Grayscale Investments for the launch of such a product.  While the petition has garnered attention, Grayscale is yet to provide any response. The rationale behind the increased calls for a spot Shiba Inu ETF is the potential impact the product might have on Shiba Inu’s price. Notably, if demand is high, the ETFs could attract enough capital to the Shiba Inu market. While this could have significant effects on prices, the actual extent of…

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Filed under: News - @ July 6, 2024 1:14 pm