Can we expect a Shiba Inu ETF soon?

Crypto YouTuber Altcoin Daily has shared some eye-catching news via a post on X. It concerns the upcoming launch of regulated futures contracts for multiple altcoins, including Shiba Inu (SHIB). According to the YouTuber, this could pave the way for a Shiba Inu Spot Exchange Traded Fund (ETF).

The futures contracts are powered by Coinbase Derivatives, a subsidiary of crypto exchange Coinbase. The company focuses specifically on offering derivatives products, such as futures and options, on various cryptocurrencies. Last week, Coinbase Derivatives applied to the U.S. Commodity Futures Trading Commission (CFTC) for approval to list futures contracts on SHIB, as well as Stellar (XLM), Chainlink (LINK), Polkadot (DOT), and Avalanche (AVAX). These products are expected to list on July 15, 2024.

According to Altcoin Daily, regulated futures contracts offer investors more transparency and security. These products can often lead to the launch of spot ETFs for the assets involved. The YouTuber states in his video that spot ETFs for Bitcoin (BTC) and Ethereum (ETH) were approved on the same basis, since there were regulated futures contracts for these assets first.

Ethereum ETFs are near

Currently, there is only one active Spot ETF, Bitcoin’s. However, Ethereum funds are still pending, despite initial approval earlier this year. Analysts had expected the Ethereum funds to launch this week, after the U.S. Securities and Exchange Commission (SEC) approved all eight 19b-4 filings on May 23. However, required amendments to the S-1 registration forms have caused a delay.

ETF expert Nate Geraci expects the funds to be available in two weeks. The SEC has set a deadline of July 8 for the necessary changes to the paperwork. Geraci predicts that ETF issuers will reach an agreement with the SEC by July 12, with the funds launching the following week.

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