Shiba Inu on Track for Dedicated Spot ETF Despite No Immediate Launch

Shiba Inu (SHIB) has not yet secured a dedicated spot exchange-traded fund (ETF) in the United States, but it's making progress through other channels. Mazrael, a long-time Shiba Inu community member, notes that while there is no SHIB ETF yet, the asset remains on track to achieve this milestone.

The T. Rowe Price ETF, which was approved by the SEC in June 2022, includes SHIB among its eligible assets but will not hold all of them at once. The ETF plans to maintain between five and fifteen crypto assets simultaneously using an active management strategy. It launched with eight coins excluding SHIB: Bitcoin, Ethereum, BNB Chain, Solana, XRP, Chainlink, Dogecoin, and Cardano.

In another development, Laser Digital Japan, the Japanese entity of Nomura's digital assets subsidiary, has completed its registration and is authorized to operate as a crypto asset exchange service provider under Japan's Payment Services Act. This could boost SHIB's status in Japan, where it is listed among six other crypto assets.

Valour SHIB ETP has also launched in Europe and is tradable. In Canada, Coinbase introduced regulated crypto futures trading through its CFTC-registered futures arm, which includes 23 crypto futures contracts, including SHIB.