Shiba Inu’s marketing lead Lucie has revived debate over whether Shiba Inu (SHIB) could soon get its own exchange-traded fund. In a post on X, she pointed to Coinbase’s new “1K SHIB Index” futures as proof the token now qualifies under the U.S. Securities and Exchange Commission’s (SEC) latest rules. She described SHIB as part of the “ETF watchlist club,” alongside Solana, Dogecoin, and Hedera.
Her comments follow the SEC’s approval of generic listing standards for crypto ETFs on Sept. 18 — a rule change that could accelerate the listing of altcoin funds.
Until now, crypto ETFs faced long delays. Every application had to be filed under a 19b-4 review, a process that often took months or even years. Products tied to Hedera and Polkadot were repeatedly postponed under this system.
The new framework simplifies things. If a token has regulated futures trading for at least six months, or if an existing ETF already holds significant exposure to it, exchanges can list the ETF without waiting for individual SEC approval.
This model mirrors the 2019 “ETF Rule” in traditional markets, which dramatically increased the number of funds launched each year. Analysts expect a similar effect in crypto.
SHIB Gains Futures Listing Through Coinbase
Coinbase Derivatives launched 1K SHIB Futures in 2024. Each contract represents 10,000 units of the SHIB index, is cash-settled in U.S. dollars, and is regulated by the Commodity Futures Trading Commission (CFTC). Contracts trade nearly around the clock, Sunday through Friday, under a regulated framework.
This futures listing gives SHIB a key requirement under the SEC’s new rules. Galaxy Digital Research listed SHIB among roughly ten tokens that could qualify for fast-track ETF approval. The list also included DOGE, SOL, AVAX, HBAR, DOT, LINK, LTC, BCH, and XLM.
Liquidity further supports SHIB’s case. The token is listed on more than 100 exchanges worldwide and consistently ranks among the most traded altcoins by daily volume.
The Shiba Inu community has actively campaigned for an ETF. On February 25, 2024, the group SHIB BPP launched a petition on Change.org addressed to Grayscale Investments. The petition urged Grayscale to create a Shiba Inu ETF.
By June 2024, the petition had 9,717 signatures. A week later, it crossed 10,500. Later updates showed it passed 11,300 signatures, with a goal of 15,000.
Despite the push, Grayscale has not responded publicly or filed an application for SHIB. The petition shows strong demand, but it is not a regulatory process.
No Filing Submitted for SHIB ETF
As of now, no asset manager has filed for a SHIB ETF. There is no S-1 prospectus, no 19b-4 submission, and no ticker on the DTCC’s eligibility list. Without a sponsor, the SEC cannot review or approve a product.
That leaves SHIB token in a position of eligibility without progress. Analysts note that until a fund manager steps forward, talk of a SHIB ETF remains speculative.
ETF analysts James Seyffart and Eric Balchunas described the SEC’s new standards as a breakthrough for altcoins. But both stressed that meeting eligibility standards does not guarantee approval. The SEC will still examine liquidity, custody, and market surveillance agreements.
Galaxy Digital also noted that SHIB’s futures market is relatively new, and volume may not yet satisfy all of the SEC’s concerns. The regulator has been cautious about smaller, more volatile tokens, warning about manipulation risks.
Dogecoin ETF Goes Live Amid SHIB ETF Discussion
Dogecoin has already taken the lead. On Sept. 18, REX Shares and Osprey Funds launched the first U.S.-listed DOGE ETF, trading under the ticker DOJE on the Cboe BZX Exchange.
The fund holds a mix of direct Dogecoin and exposure through a 21Shares DOGE ETP. According to its sponsor, about 60.45% of assets are in DOGE directly and 38.72% are through the ETP. It carries an expense ratio of 1.5%.
Trading volume was strong from the start. Additionally, DOJE recorded about $17 million in activity on its first day, including $6 million in the first hour alone. Alongside a new XRP ETF (XRPR), the two products generated $54.7 million in combined debut trading.
Above all, this makes Dogecoin the first meme coin to achieve an ETF in the U.S. market. By contrast, SHIB has not yet seen a single filing.
