Cryptocurrency

SHIB Likely Price if it Captures 20% of Spot Bitcoin ETF Inflows After Shiba Inu ETF Approval

The approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) in January 2024 has invigorated the cryptocurrency market. These exchange-traded funds (ETFs) have attracted significant inflows from traditional institutions, propelling Bitcoin to unprecedented heights.

The success of these Bitcoin ETFs has fueled speculation about similar products for other cryptocurrencies, with Shiba Inu (SHIB) being a prime candidate within its enthusiastic community.

While there are no current applications for a spot SHIB ETF has not, we can explore the potential impact of such a development. The inflows witnessed by spot Bitcoin ETFs provide a benchmark to assess how a theoretical SHIB ETF could influence Shiba Inu’s price.

Shiba Inu Community Rallies for Spot ETF

The Shiba Inu community has actively advocated for a SHIB ETF. In February 2024, a petition garnered over 5,000 signatures urging Grayscale Investments, a prominent digital currency asset manager, to consider filing for a spot SHIB ETF. This grassroots effort highlights the community’s belief that a SHIB ETF could significantly bolster the token’s value.

Potential Price Increase from Inflows

BitMEX Research recently shared data showing that spot Bitcoin ETFs have attracted a net inflow of $12.125 billion since their launch in January. Assuming a hypothetical SHIB ETF captures 20% of this inflow based on the meme coin’s popularity, Shiba Inu could experience a substantial price increase.

This translates to $2.425 billion in potential capital directed towards the Shiba Inu market. We can apply the Bank of America 1:10 multiplier effect to calculate the impact of this inflow on SHIB’s market cap. This multiplier effect suggests that ETF inflows could lead to a $24.25 billion surge in Shiba Inu’s market cap.

Market Cap and Price Projection

Shiba Inu’s current market capitalization sits at approximately $15.6 billion. With the additional $24.25 billion, the market cap would reach $39.85 billion. Considering Shiba Inu’s current circulating supply of approximately 582 trillion tokens, this market cap translates to a potential price of 0.00006838. SHIB is trading at $0.00002654, and achieving the target above translates to a 157.6% increase for the meme coin.

The Shiba Inu community is eager for a SHIB ETF, and this ETF could hold some advantages over others. Should a spot SHIB ETF experience sustained inflows comparable to those observed with Bitcoin ETFs, the impact on Shiba Inu’s price could be even more dramatic.


Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.

Recent Posts

Crypto Analyst’s Price Prediction Takes Community By Storm: XRP Price At $100 And Dogecoin At $55?

Price predictions are increasingly becoming an intrinsic feature in the crypto landscape, and a famous…

2 hours ago

Top Crypto ICO to Watch in 2024: Missed Ethereum? This New Viral Crypto Presale Could Be Your Next Chance

In 2014, Ethereum’s Initial Coin Offering (ICO) took the world of cryptocurrency by storm, raising…

4 hours ago

17 Trillion SHIB In 24 Hours: Here’s What Happened

Shiba Inu is experiencing a surge in market activity, capturing attention with approximately 17 trillion…

7 hours ago

Expert Expects SHIB Higher Time Frame Continuation, Calls SHIB Army to Buy the Dip

Crypto chartist CryptoAmsterdam recently advised Shiba Inu (SHIB) investors to view every price dip as…

8 hours ago

Ripple CTO Explains Investment Contract and Why SEC Is Wrong About XRP

David Schwartz, Ripple’s Chief Technology Officer, recently highlighted significant distinctions between contracts and “reasonable reliance,”…

9 hours ago

Best Crypto to Buy Now: Top Picks for 2025 Growth Potential

Bitcoin's recent all-time highs have brought the cryptocurrency market to a crucial turning point that…

10 hours ago