**Exciting News: Nasdaq Seeks SEC Approval for Grayscale’s Polkadot ETF, Sparking Institutional Interest in DOT!**
In a significant development for the cryptocurrency market, Nasdaq has submitted a request to the U.S. Securities and Exchange Commission (SEC) to list and trade shares of Grayscale’s proposed Polkadot ETF. This move could pave the way for increased institutional interest in Polkadot (DOT), which is currently trading at $4.44, facing resistance at $6.2. If approved, the ETF could enhance liquidity and encourage broader institutional adoption of DOT.
The proposed investment fund aims to track the spot price of Polkadot and would trade under the ticker “DOT.” Grayscale’s initiative is designed to offer investors a regulated avenue to gain exposure to Polkadot, further expanding its growing portfolio of cryptocurrency ETFs. As interest in digital assets continues to rise among institutional investors, analysts are closely examining how this development might influence DOT’s market performance and liquidity.
**Nasdaq Files Form 19b-4 for Grayscale’s Polkadot ETF**
Nasdaq’s submission of Form 19b-4 to the SEC is a crucial regulatory step for introducing new investment products. The Grayscale Polkadot Trust would provide investors with direct exposure to DOT through an exchange-traded fund, eliminating the need for them to hold the asset directly. According to the filing, CSC Delaware Trust Company will act as the trustee, while Coinbase Custody Trust Company, LLC will serve as the custodian. Other important players in this initiative include BNY Mellon, which will manage administration, and CoinDesk Indices, Inc., responsible for tracking the fund’s benchmark.
This marks the second application for a DOT-focused ETF this year, following 21Shares’ recent filing with the SEC to launch a spot Polkadot ETF, highlighting the growing institutional interest in this asset. However, some skepticism remains. Bloomberg Intelligence analyst James Seyffart noted that the success of Polkadot’s ETF hinges on market demand, stating, “If no one puts money into a Polkadot ETF, it will close.”
**Grayscale Expands Its Crypto ETF Portfolio**
Grayscale is actively pursuing more crypto-based ETFs, with its Polkadot filing adding to an expanding list of proposals. The firm has also applied to convert its XRP Trust into an ETF and is seeking SEC approval for ETFs linked to Solana (SOL), Dogecoin (DOGE), Cardano (ADA), and Litecoin (LTC). The SEC’s responses to these applications could significantly influence the future of altcoin ETFs in the U.S. Recently, the regulator acknowledged Grayscale’s applications for Dogecoin and XRP ETFs, marking the beginning of a longer review process. Meanwhile, optimism surrounds Grayscale’s proposed Cardano ETF, with Ethnews reporting a 64% chance of ADA’s ETF approval, potentially opening doors for institutional investment by August 2025.
Following Nasdaq’s ETF filing, DOT briefly surged by 4% but later retraced. As of now, Polkadot is trading around $4.44, down 6% in the last 24 hours, with a market cap of $6.6 billion, making it the 26th largest cryptocurrency. Market analysts are keeping a close eye on DOT’s technical indicators, as the cryptocurrency landscape continues to evolve.
