Nasdaq has officially requested the U.S. Securities and Exchange Commission (SEC) to list an exchange-traded fund (ETF) for Polkadot, developed by the investment company 21Shares.
Nasdaq's SEC Request
The Nasdaq document, known as 19b-4, represents a proposal for a rule change and is the second half of the standard ETF filing with the SEC.
21Shares Filing History
Earlier this year, 21Shares submitted a spot Polkadot ETF filing and updated its S-1 form on March 7. This form acts as a registration of securities and is typically one of the first steps in bringing a new ETF to market.
Trends in Crypto-ETFs
Several companies have tested crypto-ETF waters under Donald Trump's pro-digital asset administration. 21Shares also filed for ETFs tracking other altcoins like Solana and XRP. Grayscale bid for a spot DOT product, while Canary Capital is seeking approval for an SUI ETF, which could also be the first of its kind.
Applications for crypto-ETFs are becoming increasingly popular, with many companies showing interest in creating products based on various digital assets. Further SEC decisions will be critical for the future of these financial instruments.
