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- 📢 Gate Square #Creator Campaign Phase 2# is officially live!
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Why is the SHIB ETF fund good?
With the approval of the Ethereum ETF for immediate delivery by the U.S. Securities and Exchange Commission (SEC), other altcoins, such as Shiba Inu, are aiming to have their own ETF funds. Accordingly, the head of Shiba Inu marketing has provided some reasons why the Shiba Inu ETF will truly be a great addition to the cryptocurrency space.
Why is the SHIB ETF fund good?
In a post made on X (formerly known as Twitter), LUCIE - marketing team leader for the Shiba Inu project, shared some positive potential points from the SEC's actual approval of SHIB ETF for trading.
First, the marketing team leader explained that the Shiba Inu ETF will make it easier to attract traditional investors to participate in the project. This means that they can now invest in SHIB through a managed platform instead of risking direct exposure to the coin.
Moreover, traditional investors who can access through ETFs will increase the demand for this coin. The increased demand can then drive up the price, making SHIB more valuable.
Another reason is the regulation and safety after investing in Shiba Inu. When an asset meets this compliance level, investors will find it easy to participate. Similarly, they can diversify their investment portfolios from Bitcoin and Ethereum ETFs to SHIB ETFs.
Disadvantages of SHIB ETF
While there are many benefits to owning the Shiba Inu ETF, there are also drawbacks as LUCIE has listed in their posts. Among them, the highlight is trading off the subordination and ownership rights of third parties, as well as investment costs.
Regarding hierarchical trading, ETFs will be subject to the control of a centralized agency, which goes against the mission of decentralized finance. This may also lead to asset manipulation and prevent SHIB ETF investors from directly participating in DeFi activities.
Another disadvantage is that investors participating in Shiba Inu ETF do not personally hold the coin. In addition, there are investment costs through brokerage/management fees, as well as strict supervision by regulatory agencies, which is a significant trade-off for those entering the cryptocurrency market for decentralization.
However, the driving force behind the Shiba Inu ETF remains strong in the community. To date, a petition sent to Grayscale Investments to launch the SHIB ETF has received over 11,000 signatures.
SHIB 4-hour price chart | Source: Tradingview