Here’s How Shiba Inu Can Reach $0.0010 or $0.0019 After SHIB ETF Approval

Shiba Inu has the potential to reach the ambitious $0.001 price territory if a spot-based SHIB ETF receives a significant level of adoption.  

Following the launch of Bitcoin and Ethereum spot ETFs, Shiba Inu community members have been calling on asset managers to roll out a similar product for SHIB. 

Community Pushes for Spot SHIB ETF 

These Shiba Inu proponents contend that SHIB has everything it takes to get an ETF tied to the asset. In particular, they claimed that the U.S. SEC has never labeled SHIB a security, strengthening the token’s prospects of securing an ETF. 

Interestingly, these enthusiasts have strengthened their demand for a SHIB ETF by petitioning leading crypto asset manager Grayscale Investments. As this demand continues to gain momentum, some enthusiasts wonder how an ETF product could impact SHIB’s price. 

The impact of a spot Shiba Inu ETF on SHIB’s price depends on the level of adoption the product receives. For instance, Bitcoin has witnessed significant gains since the SEC approved multiple Bitcoin spot ETFs on January 10. The surge stems from the net inflows these ETFs have generated since January 10, totaling $17.6 billion as of August 30, according to data from Farside. 

SHIB’s Price If It Receives 50% of Bitcoin Net Inflows 

If Shiba Inu gets a spot ETF and records 50% of Bitcoin ETF net inflows, its inflow would amount to $8.8 billion. According to a recent report, Bank of America (BoA) estimated that Bitcoin ETF inflows would have a more significant impact on BTC’s price. 

The banking giant estimated the impact to be around 1:118 for Bitcoin. This indicates that BoA expects Bitcoin’s market cap to increase by $118 billion for every $1 billion worth of inflow into the product.  

Using this estimate for Shiba Inu, a hypothetical inflow of $8.8 billion, assuming SHIB’s potential ETF captures 50% of Bitcoin spot ETF net inflow, could translate to a market cap of approximately $1.04 trillion. Adding this figure to Shiba Inu’s current market cap of $8.21 billion would bring SHIB’s valuation to $1.12 trillion. 

Supposing Shiba Inu’s circulating supply remains relatively stable at 589.27 trillion, a market cap of $1.12 trillion would translate to a price of $0.0019. This represents a surge of 13,500% from SHIB’s current price of $0.00001397. 

Shiba Inu’s Price If It Gets 30% of Bitcoin Spot ETF Inflows 

Meanwhile, Shiba Inu’s potential ETF could record an inflow of $5.28 billion if it captures 30% of Bitcoin’s net inflow. Applying the BoA’s estimate to the $5.28 billion inflow could lead to a market cap of $623.04 billion for Shiba Inu. 

In this hypothetical scenario, Shiba Inu’s valuation would increase to $631.25 billion after adding the figure to the current market cap. At a market cap of $631.25 billion, Shiba Inu’s price would increase to $0.001071 per token, assuming the circulating supply remains fairly stable at 589.27 trillion. This marks a massive surge of 7,566% from Shiba Inu’s current price.