The Shiba Inu (SHIB) ETF petition is on the verge of reaching a significant milestone of 10,000 signatures, with just 300 more needed to hit the target.
Heber Mayen, a prominent figure in the Shiba Inu community, revealed this development in a recent post. The announcement came in response to a tweet from SHIB BPP regarding a Change.org petition aimed at Grayscale Investments CEO Michael Sonnenshein. SHIB BPP has been actively promoting the petition on various platforms, rallying members of the Shiba Inu community to show their support.
The petition, which has garnered 9,701 signatures so far, is closing in on the 10,000 mark. Initially set at 1,000 signatures back on February 26, the target was quickly surpassed, leading to subsequent increases to 2,500 and now 10,000 signatures. Over the past week, 140 new signatures have been added to the petition.
Despite the community’s persistent efforts to raise awareness and gather support, Grayscale has not yet responded to the request for an SHIB ETF product. The Shiba Inu community chose to direct the petition towards Grayscale due to the company’s involvement in the introduction of Bitcoin ETFs in the US.
Grayscale’s recent success in obtaining approval for its Bitcoin Fund conversion to a spot ETF has fueled optimism within the Shiba Inu community. There are hopes that Grayscale will consider introducing a Shiba Inu Trust and potentially converting it into an ETF in the future, following similar moves made with other crypto-related investment products.
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