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Grayscale Launches Polkadot ETF: Prospects and Challenges

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by Giorgi Kostiuk

3 hours ago


The race to launch a Polkadot ETF intensifies as Grayscale files with the SEC for a Nasdaq listing. This could ease traditional investor access to Polkadot.

Grayscale's Push for a Polkadot ETF

Grayscale, known for its Bitcoin and Ethereum ETFs, is expanding its offerings to include altcoins. Alongside Polkadot, the firm has filed for ETFs on XRP, Cardano, Solana, Litecoin, and even memecoins like Dogecoin. Nasdaq's filing with the SEC initiates a 45-day review period, during which the regulator can approve, reject, or extend the review for further evaluation.

Why a Polkadot ETF Matters

A spot Polkadot ETF would allow investors to trade DOT on traditional stock markets, simplifying the process for institutional investors and retail traders. This reduces risks associated with crypto exchanges and custody issues. Potential benefits include attracting institutional investors, increasing liquidity, improving regulatory clarity, and making trading more accessible.

Will the SEC Approve a Polkadot ETF?

The SEC's approach to crypto ETFs is shifting. The previous administration aggressively pursued lawsuits against crypto firms; however, the current administration seems more crypto-friendly. Approval for a Polkadot ETF faces challenges, primarily because the SEC has yet to classify DOT as a commodity or security. Additionally, Polkadot's market cap and liquidity are smaller compared to Bitcoin and Ethereum, which may require more market stability for approval.

A key deadline approaches with Nasdaq's 45-day review period. The crypto industry is closely watching the SEC's response to altcoin ETFs like XRP, Solana, and Cardano, as their approval could pave the way for Polkadot's acceptance.

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