‘Good News’ Finally Arrives For SHIB Army As Team Unveils New Update

Shiba Inu has been added to the FTSE Grayscale Crypto Sectors Framework, signifying increased institutional recognition. Lucie, Shiba Inu's marketing lead, announced the addition on X, identifying SHIB in the Consumer & Culture sector alongside Dogecoin. The framework was launched in 2023 to categorize crypto assets for investors, encompassing five sectors. Grayscale's report lists SHIB among assets meeting the SEC's Generic Listing Standards (GLS), potentially easing the path for spot Exchange Traded Products (ETPs). Eleven cryptocurrencies across four sectors meet the requirements, including XRP, Litecoin, Stellar, Bitcoin Cash, Polkadot, Cardano, Solana, Avalanche, and Chainlink. While Solana and Litecoin ETFs trade in the US, Cardano, XRP, Dogecoin, and Bitcoin Cash await approval, and SHIB lacks a standalone US spot ETF filing. Valour Inc. offers a SHIB-tied ETP in Europe, and T. Rowe Price considers SHIB for its Active Crypto ETF. Despite the positive news, SHIB's price recently declined, pushing it to 34th in crypto market capitalization. Analysts suggest a potential rebound based on historical trendlines despite recent market corrections.