Nasdaq has officially filed to list the 21Shares Polkadot ETF with the SEC, aiming to provide investors with access to the DOT cryptocurrency without direct ownership.
Nasdaq and SEC: New Step for 21Shares Polkadot ETF
The 21Shares Polkadot ETF is designed to track the spot price of the DOT token. Upon approval, it would be listed on the Cboe BZX Exchange with Coinbase as the custodian of DOT reserves. This follows a previous 21Shares submission aiming to provide a regulated investment vehicle for digital assets. The ETF, if approved, will allow investors easier entry into Polkadot without holding the asset directly.
Expanding 21Shares Investment Products
21Shares is actively broadening its range of cryptocurrency investment products. In addition to Polkadot ETF, the company has filed for ETFs based on Ripple and Solana, complementing existing Bitcoin and Ethereum offerings. Moreover, they have proposed staking for their Ethereum ETF, which could offer added returns for investors.
Regulatory Influence on Polkadot ETF Approval
Regulatory changes weigh heavily on the approval process of the Polkadot ETF. While under SEC review, the resignation of Chairman Gary Gensler, cautious on crypto regulation, may shift authority approaches. Acting Chairman Mark Uyeda supports a more open stance on crypto investments, potentially improving approval chances. However, volatility and regulatory uncertainties remain major challenges.
Should the SEC grant approval, it would mark a significant progression for crypto ETFs, potentially promoting broader adoption of digital assets in conventional financial markets.
