Dear Grayscale Investments Team,

We represent a collective of investors, digital currency aficionados, and proponents of the transformative potential of cryptocurrencies. Our varied experiences and backgrounds converge on a shared ambition: to broaden the availability of cryptocurrency investment options through trustworthy, regulated channels. It is with this common vision in mind that we cordially urge Grayscale to contemplate the establishment of a Shiba Inu (SHIB) Exchange Traded Fund (ETF).

Justification:

Market Demand Indicators: Google Trends data over the past year (2/25/23 - 2/25/24) positions Shiba Inu (SHIB) as the United States' second favorite cryptocurrency, only behind Bitcoin, and ahead of Ethereum and XRP in terms of search popularity. This clear public interest not only demonstrates the wide appeal of Shiba Inu but also signifies the market's readiness for an ETF centered on SHIB.

Enhancing Accessibility and Investment Exposure: An ETF would simplify for a broader audience the process of investing in SHIB, removing the hurdles associated with direct purchases and digital wallet management. Such a product would be particularly attractive for investors seeking a regulated, familiar investment environment.

Adherence to Regulatory Standards and Ensuring Security: As an ERC-20 token on the Ethereum blockchain, Shiba Inu notably satisfies the Howey Test criteria, affirming its status as a non-security under U.S. law. This compliance, indicative of a collective-driven growth model, could enhance investor confidence by ensuring adherence to securities regulations, potentially boosting its long-term adoption and stability.

Leadership in the Market: By leveraging Shiba Inu's proven popularity and market demand, Grayscale would not only respond to investor needs but also lead the way in incorporating new cryptocurrencies into structured investment vehicles.

Our Plea:

We request Grayscale Investments, LLC to assess the viability, market demand, and potential impact of introducing a Shiba Inu ETF. We are convinced that such an offering would meet investor demand and play a crucial role in the wider acceptance and integration of cryptocurrencies into traditional investment portfolios.

In closing, we invite Grayscale to embrace its role as a leader in the digital currency investment realm. The introduction of a Shiba Inu ETF would symbolize a progressive stance towards cryptocurrency investment, mirroring the market's dynamism and diversity.

We thank you for considering our proposal and look forward to potentially collaborating on initiatives that broaden investment opportunities and foster the growth of the cryptocurrency ecosystem.

Best Regards,

Teh SHIBARMY