Nasdaq Seeks SEC Approval for 21Shares’ Polkadot ETF
In a significant move for the cryptocurrency market, Nasdaq has formally approached the U.S. Securities and Exchange Commission (SEC) to permit Swiss asset manager 21Shares to list and trade shares of a Polkadot (DOT) exchange-traded fund (ETF). The exchange has submitted a 19b-4 filing to the SEC, seeking approval to launch this innovative investment product, should it receive the green light from regulators.
The proposed ETF aims to track the spot price of DOT, the native cryptocurrency of the Polkadot network, which is known for its unique multi-chain architecture and interoperability features. This filing follows an amended S-1 form submitted by 21Shares earlier this year, representing another step forward in the firm’s ongoing efforts to expand the availability of cryptocurrency investment vehicles in the market.
Moreover, 21Shares is not stopping at Polkadot; the company is also pursuing regulatory approval for additional funds linked to XRP and Solana’s SOL. However, it’s worth noting that 21Shares recently announced plans to liquidate two actively managed crypto ETFs in response to the prevailing market downturn, highlighting the challenges faced in the current economic landscape.
In a parallel development, Grayscale Investments, a well-known player in the crypto asset management space, has also filed with the SEC to introduce a Polkadot ETF. This move underscores the growing interest and confidence in Polkadot as an investment asset and signals a broader trend towards the acceptance of cryptocurrency ETFs in mainstream finance.
