Shiba Inu (SHIB) gains prominence in T. Rowe Price's new cryptocurrency ETF.
- Shiba Inu (SHIB) enters cryptocurrency ETF
- T. Rowe Price includes SHIB among selected altcoins.
- SHIB price reacts after announcement of new ETF.
The Shiba Inu (SHIB) has returned to the spotlight after being included in the new cryptocurrency ETF from T. Rowe Price, one of the world's largest investment managers. The decision placed SHIB among ten digital assets chosen to comprise the fund submitted to the U.S. Securities and Exchange Commission (SEC).
T. Rowe Price, which manages approximately $1,7 trillion in assets, stated that the cryptocurrency ETF aims to offer a balanced selection of altcoins with growth potential. The fund seeks to compete with other diversified products in the sector, such as the FTSE Crypto US Listed Index ETF, expanding investors' exposure to the crypto market.
🐾 BREAKING: OFFICIAL SEC FILING CONFIRMS SHIB!
Global asset manager T. Rowe Price has filed an Active Crypto ETF (Form S-1) with the SEC and yes, $ SHIB is explicitly listed among the eligible assets.
📄 Page 31 on 🔥Why this matters 👇
• 🏦… pic.twitter.com/HhYUw7Oc3Q— dhel*SHIB l SHIB.io 🐕💨
According to information from the asset manager, the ETF may contain between five and fifteen eligible cryptocurrencies, allowing for adjustments based on volatility and market trends. The inclusion of Shiba Inu reinforces the token's recognition as a relevant asset within the segment of the most popular altcoins.
“It’s surprising to see them enter the market relatively late, but they plan to offer something different to try and gain market share,” commented Bryan Armour, ETF analyst at Morningstar. The choice of Shiba Inu (SHIB) in the portfolio was seen by analysts as a strategic move to attract investors interested in tokens with strong community support and considerable liquidity.
SHIB price analysis
At the time of publication, the price of Shiba Inu was around US$0,00001004, registering a 7% increase in the last 24 hours. Even with the positive reaction, the cryptocurrency has accumulated a drop of approximately 44% this year, after several unsuccessful attempts to overcome the resistance of US$0,000014.
To resume an upward trend, SHIB needs to consolidate gains above $0,000012, which would open up space to retest the $0,000014 level. On the opposite side, the most relevant support remains in the $0,00000800 range, a point where the asset tends to encounter buying pressure should further corrections occur.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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