Nasdaq Files Proposal with SEC: 21Shares Polkadot ETF Ready to Hit the Market!

Jakarta, Pintu News – The cryptocurrency market is back in the spotlight with the latest move from Nasdaq and 21Shares applying to the US Securities and Exchange Commission (SEC) to launch a Polkadot ETF.

This initiative marks a new era in cryptocurrency investment, giving investors easier and more organized access to directly engage with Polkadot (DOT).

Polkadot ETF Filing by Nasdaq

Nasdaq has filed a Form 19b-4 with the SEC, marking an important step in the effort to list the Polkadot ETF managed by 21Shares. The ETF is designed to track the spot price of Polkadot (DOT), which is currently ranked as the 27th largest crypto asset by market capitalization.

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With this filing, Nasdaq seeks to provide a way for investors to gain direct exposure to Polkadot (DOT) without having to interact directly with the crypto asset. The proposed ETF will be tracked through the CME CF Polkadot-Dollar Reference Rate – New York Variant, which is calculated by CF Benchmarks Ltd.

The trust, managed by 21Shares US LLC, will physically hold Polkadot (DOT), with Coinbase acting as custodian. This demonstrates Nasdaq and 21Shares’ commitment to providing investors with a safe and trusted product.

Market Reaction and Polkadot ETF Competition

The ETF filing by Nasdaq has triggered a slight price increase for Polkadot (DOT), although its market capitalization currently stands at around $6.7 billion. This indicates a positive response from the market to the ETF news.

In addition, Grayscale Investments has also applied to launch their own Polkadot ETF, showing that there is healthy competition and high interest in Polkadot among the big players in the cryptocurrency ETF space.

The presence of multiple ETF filings for the same asset shows a growing trend where more financial firms are looking to capitalize on the rising popularity of cryptocurrencies. It also signals increased institutional confidence and interest in cryptoassets as a legitimate asset class.

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Next Steps and Potential Impacts

With the filing of Form 19b-4, the Polka dot ETF by Nasdaq and 21Shares now enters the review phase by the SEC, which has up to 240 days to make a decision.

This decision will greatly affect the way investors view and interact with crypto assets, especially Polkadot (DOT).

If approved, this ETF would be one of the first of its kind in the United States to offer direct exposure to Polkadot (DOT), and could be a catalyst for wider adoption of cryptocurrencies by retail and institutional investors. It could also open the door for similar ETFs targeting other cryptoassets, expanding the reach and impact of the cryptocurrency market as a whole.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Nasdaq Files $19B-4 for 21Shares Polkadot ETF with US SEC. Accessed on March 19, 2025
• Crypto Briefing. Nasdaq Files for Polkadot ETF. Accessed on March 19, 2025
• The Crypto Basic. Nasdaq Files with SEC to List 21Shares Polkadot ETF. Accessed on March 19, 2025