Nasdaq presented Form 19b-4 to the US Securities and Stock Exchange Commission (SEC) for the Spot Polkadot ETF of 21shares. This ETF will allow investors the opportunity to invest in Polkadot without buying DOT Token directly.
21shares Expanding Crypto ETF portfolio
Nasdaq has applied to the SEC to list the Spot Polkadot ETF on behalf of 21shares. This new ETF will be based on DOT, the local token of Polkadot. 21shares continues to expand crypto investment options by offering various crypto ETFs, including Solana, XRP and Stinging -oriented Ethereum products.
In the S-1 change presented by the company recently, their intentions in presenting digital asset funds subject to regulation were emphasized. 21Shares aims to provide investors the opportunity to benefit from the growth of this asset without buying Dot Token directly.
Spot Polkadot ETF race is hot
In addition to 21shares, Grayscale Investments, one of the most important players in the crypto currency ETF, applied to the SEC to start his own Spot Polkadot ETF. This shows that corporate investor interest in Polkadot has increased and the competition in the sector is heating.
On the other hand, 21shares also evaluates a stinging option for Core Ethereum ETF. This innovation can provide investors the opportunity to earn passive income and allow them to benefit from Stinging Awards.
However, SEC has postponed its decision for other crypto assets such as Solana, XRP, Litecoin and Dogecoin.
Response of Markets to ETF application
After Nasdaq’s ETF application, Polkadot’s local Token Dot experienced a short -term price increase. Currently, DOT’s market value is about $ 6.7 billion.
However, despite the positive ETF news, a slight decrease of 1.12 %was a slight decrease in DOT price. This shows that high volatility in crypto markets is still continuing.
DOT’s support levels are $ 4,322, $ 4.129 and $ 3.826, while the resistance points to be exceeded for the upward movement stand out as $ 4,599 and $ 4.898. If the price remains under downward pressure, these support levels may play a critical role.
How will Polkadot ETF affect investors?
The interest of large companies such as 21shares and Grayscale to the Polkadot ETF shows that corporate investors’ expectations for this being has increased. However, SEC’s attitude towards ETF applications and regulatory uncertainties continue to be critical for markets.
In the coming period, SEC’s decisions and general market trends will be decisive on Polkadot’s price movements.
