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Shiba Inu Team Gives 4 Reasons Why SHIB ETF Is Imminent
Shiba Inu marketing lead Lucie’s recent remarks on a potential SHIB ETF have echoed a bustle across the crypto industry. In a post shared on X by the marketing lead today, July 11, vital aspects of why an ETF could serve extremely beneficial were highlighted, glimmering hope for an imminent launch.
In the wake of a looming Ethereum ETF launch and also a potential SOL ETF in the pipeline, the statements orbiting a SHIB ETF have promptly gained significant traction across the broader crypto market. Let’s delve deeper into the Shiba Inu marketing lead’s remarks and why it sparked optimistic discussions across the global crypto community.
Lucie Points Benefits Of SHIB ETF Glimmering Hope For Imminent Launch
Notably, Lucie took to X, spotlighting four crucial benefits of a potential SHIB ETF launch. These include:
Accessibility: A Shiba Inu exchange-traded product paves the way for traditional investors to gain exposure to the meme-based asset without having to go through the trouble of navigating through exchanges.
Regulation & Security: Lucie zeroed in on how ETFs serve as a regulated financial product. This offers investors an additional layer of security and compliance, magnetizing even institutional investors.
Diversification: “An ETF could include a basket of related assets, reducing risk through diversification,” Lucie added.
Increased Demand: As seen previously with the launch of Bitcoin ETFs, listing a digital asset’s ETF significantly amplifies its demand and liquidity. Simultaneously, “Listing SHIB in an ETF could boost demand and liquidity, potentially increasing its value.” Lucie stated.
While these factors splashed optimism on an imminent SHIB ETF, the marketing lead also spotlighted potential setbacks that the Shiba Inu might encounter in its DeFi endeavor.
Lucie Spotlights Drawbacks
Lucie states a stockpile of setbacks could present with the potential ETF launch. These include:
Centralization vs. Decentralization: An exchange-traded product centralizes control over the asset, a stark contrast to DeFi’s decentralized ethos.
Loss of Direct Ownership: ETF investing eradicates engagement in DeFi activities like staking and governance, facilitating investment opportunities at the loss of involvement in the project.
Reduced Engagement: The abovementioned factor directly correlates to less active participation within the ecosystem, thereby weakening it.
Costs and Regulations: Lucie added that ETFs involve management fees and regulatory oversight, dissuading cost-conscious DeFi participants yet providing security and legitimacy to cautious investors. As seen recently with the re-filing of Ethereum S-1 amendments forms, these factors could negatively impact Shiba Inu’s market dynamics.
Also Read: Republicans Should Unite to Stop Anti-Crypto SEC Commissioner Crenshaw, Says Pat Tommey
Shiba Inu Market Performance
Meanwhile, SHIB’s price traded in the red zone today, down 1.57% to $0.0000165, aligning with the broader market trend. The 24-hour bottoms and tops were recorded as $0.00001619 and $0.00001682, respectively.
Shiba Inu’s 14-day RSI moved along the 42 mark today, hinting that the asset is neither overbought nor oversold, although some downside pressure might be present. Nonetheless, a recent price analysis by CoinGape Media spotlighted that investors might see a potential SHIB price dump of 30% before a massive rally, glimmering hope for the meme coin’s long-term prospects alongside a potential SHIB ETF ahead.
Also Read: Justin Sun Buys $5 Million In ETH Ahead of Ethereum ETF Approval
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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