Nasdaq has formally requested SEC approval for listing and trading of the Polkadot ETF proposed by Swiss asset manager 21Shares.
Nasdaq's New Filing
The exchange's 19b-4 filing seeks regulatory permission to list the ETF, subject to SEC approval. The fund aims to track the spot price of DOT, the native cryptocurrency of the Polkadot network.
21Shares' Plans
Earlier this year, 21Shares filed an amended S-1 form, reinforcing its commitment to expanding its suite of crypto investment products. The firm is also actively pursuing SEC approval for ETFs linked to XRP and Solana (SOL).
Competition in Crypto ETFs
Grayscale Investments, another big name in crypto asset management, also filed with the SEC for its Polkadot ETF. Many asset managers have filed spot ETF applications for various altcoins and are awaiting SEC review. These applications were filed after crypto-friendly US President Donald Trump took office.
These actions highlight the efforts of companies like 21Shares and Grayscale in engaging institutional investors and expanding the presence of cryptocurrencies in financial markets.
