Grayscale Investments, a crypto asset-management company looking to add XRP and Cardano exchange-traded funds to its offerings, is now starting down the route for an ETF investing in Polkadot’s DOT token as well.
Nasdaq has filed a formal Form 19b-4 request with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Polkadot Trust (DOT). The filing starts a 45-day review period for the regulator to acknowledge the filing. The regulator can approve, or disapprove the application or extend the review period.
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In recent weeks, Grayscale, which already offers bitcoin and ether ETFs, has filed with the SEC to convert its XRP Trust into an exchange-traded fund, and filed to list a spot Cardano ETF. These filings come as the SEC pivots to a more friendly approach to the digital asset industry under the Trump administration, having recently dropped numerous crypto-related investigations, including against Robinhood and non-fungible token marketplace OpenSea.
Grayscale has never offered a standalone Polkadot product. The filing sees it join crypto asset manager 21Shares, which late last month filed to list a spot Polkadot ETF with the SEC as well.
Polkadot’s DOT is at the time of writing trading at $4.4 after losing 6.7% of its value in the last 24-hour period amid a wider cryptocurrency market downturn.
