Wall Street Experts Anticipate Shiba Inu ETF Launch Ahead Of DOGE

In an unprecedented mover, rumors of a Shiba Inu ETF launch looming over the crypto horizon have set the market abuzz. On Monday, renowned on-chain tracker Whales

In a surprising move, rumors of a Shiba Inu ETF launch have sparked excitement in the crypto market. On Monday, well-known on-chain tracker Whales HQ reported that Wall Street experts expect a SHIB ETF to launch soon. This news has left traders buzzing, wondering if a DOGE ETF is also on the horizon.

Wall Street Experts Anticipate Shiba Inu ETF Launch Before DOGE

According to an X post by Whales HQ on October 7, Wall Street experts are anticipating a Shiba Inu ETF launch in the near future. However, there is a lot of speculation in the market about whether these rumors are true.

In the current market scenario, an ETF backed by a digital asset is known to bring a large amount of money into the ecosystem. If the crypto space sees a SHIB ETF launch, a similar impact could be seen. However, given SHIB's relatively small market cap of only $10.52 billion, market observers are questioning the likelihood of such a scenario.

If anything, the largest meme token by market cap, Dogecoin, could see an ETF before a SHIB-backed exchange-traded product goes live. In contrast, Bitcoin, the first crypto to obtain ETF approval, has a market cap of an impressive $1.24 trillion. At the same time, Ethereum, the second largest crypto by market cap, secured an ETF with a market cap of $297.16 billion. In this regard, popular cryptocurrencies like Solana (SOL) and Ripple's XRP seem to be next in line for an ETF launch. Recently, CoinGape Media reported that Bitwise applied for an XRP ETF. Notably, the exchange went ahead and filed a registration for a Delaware statutory trust, aiming to launch the ETF.

Moreover, it’s important to note that Bonk, another dog-themed meme coin, recently announced the launch of a BONK ETP in the U.S. This move by the token's community paves the way for an ETF launch up front. However, even Bonk's market cap of only $1.57 billion has left the chances of an ETF in doubt. Overall, current market statistics suggest that a Shiba Inu ETF launch may not be as imminent as Whales HQ suggests.

SHIB & DOGE Price Performance

At press time, SHIB price was trading at $0.00001785, showing a gain of almost 2% in the past 24 hours. The coin's intraday low and high were $0.0000175 and $0.00001878, respectively. Meanwhile, DOGE price was trading at $0.1111, which is up nearly 1% in the past 24 hours. The coin's 24-hour low and high were $0.1096 and $0.1152, respectively. The meme coins' rising movement today aligns with the broader market trend. In the meantime, a Shiba Inu ETF launch could further fuel a positive momentum in the token's price, despite the low chances of such an occurrence in the near future.

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