Nasdaq Files for Polkadot ETF
Nasdaq Files for Polkadot (DOT) Spot ETF
The Nasdaq Stock Market has filed Form 19b-4 with the Securities and Exchange Commission (SEC), seeking approval to list and trade a spot Polkadot ETF. This ETF, proposed by 21Shares, will track the price of Polkadot's native token, DOT, currently ranked as the 27th largest cryptocurrency by market capitalization.
This filing follows a recent S-1 amendment submitted by 21Shares. As the ETF sponsor, 21Shares aims to offer investors a regulated and easily accessible way to invest in DOT. The proposed fund seeks to directly mirror the spot price of DOT, providing straightforward market exposure.
21Shares' Broader Crypto ETF Strategy
- In addition to the Polkadot ETF, 21Shares is also pursuing regulatory approval for ETFs tied to XRP and Solana (SOL).
- The firm has separately proposed allowing its 21Shares Core Ethereum ETF to participate in staking, potentially boosting investor returns. This proposal limits staking to ether held by the trust, excluding delegated staking or staking-as-a-service.
The Nasdaq's filing comes as other firms, including Grayscale Investments, are also seeking to launch spot Polkadot ETFs. Previously, Tuttle Capital Management proposed leveraged Polkadot ETFs, but later withdrew those proposals.
Following the ETF filing news, DOT saw a minor price increase. Its current market cap sits at approximately $6.4 billion (data from CoinGecko).
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