Nasdaq has filed for listing a Grayscale ETF holding the Polkadot token (DOT), expanding the company's growing lineup of crypto funds.
Application Review
The application for Grayscale's Polkadot ETF listing has been submitted to the US Securities and Exchange Commission (SEC). SEC's review and approval are required before trading can begin.
Grayscale's ETF Expansion
Grayscale already lists two Bitcoin ETFs and an Ether ETF. The company plans to add funds holding Solana, Litecoin, XRP, Dogecoin, and Cardano, and a diversified crypto basket. In February, it launched an investment fund for the Pyth Network's token.
Proliferation of Crypto ETF Filings
Several asset managers, including Grayscale, are awaiting approval for altcoin ETFs. 21Shares is also seeking to list a Polkadot ETF. The SEC is reviewing its cryptocurrency policy following changes in the US administration.
The filing for Grayscale's Polkadot ETF highlights the growing appeal of cryptocurrency funds to traditional financial markets.
