Shiba Inu’s (CRYPTO: SHIB) official X account highlighted on Wednesday the approval of a new exchange-traded fund that could hold SHIB, signaling growing institutional recognition for the memecoin.
SHIB Achieves Regulated Entry In Wall Street
The SEC approved the T. Rowe Price Active Crypto ETF last week, which is slated to list on the NYSE Arca exchange under the ticker TKNZ.
The T. Rowe Price Group Inc. (NASDAQ:TROW), a global investment firm with over $1 trillion in assets under management, is expected to hold multiple cryptocurrencies in the fund, with SHIB classified as one among the many “eligible” assets.
“‘Just a meme coin,’ they said,” SHIB’s X account noted, countering the long-standing skepticism that memecoins work purely on speculation and are not fit to be institutional-grade assets.
