Grayscale is pushing for a Polkadot ETF on Nasdaq, with the SEC reviewing the application. Polkadot is currently $4.35.
Grayscale Investments, a big name in crypto assets, is aiming to launch a Polkadot (DOT) ETF. They’ve officially filed with Nasdaq to list and trade shares of the Grayscale Polkadot Trust. The SEC now has 45 days to decide whether to approve, reject, or extend the review.
Grayscale already has Ethereum and Bitcoin ETFs, and now they want to include Polkadot on the list as well. This is just days after 21Shares, which is another company that trades cryptocurrency, filed an application for a Polkadot ETF last month. If approved, it will further expose and invest in Polkadot.
Polkadot is currently priced at $4.35 and has fallen by 6.7% in the past 24 hours with the entire cryptocurrency market under bearish pressure.
This comes at a time when the SEC has become more friendly toward crypto, especially since the Trump era. They’ve dropped investigations on platforms like Robinhood and OpenSea, which might make it easier for projects like Grayscale’s to move forward.
While the decision is still in the works, if the SEC gives the green light, Polkadot could see a major boost in the market with more investors jumping on board. Fingers crossed!
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