Nasdaq has formally requested approval from the U.S. Securities and Exchange Commission (SEC) to list a Polkadot (DOT) exchange-traded fund (ETF) in collaboration with 21Shares, a wealth management firm specializing in digital assets.
The exchange submitted a 19b-4 document, a proposal for rule change, to the SEC, marking the second phase of the regulatory process for bringing the Polkadot ETF to market. This filing follows 21Shares’ earlier submission of a spot DOT ETF application and an updated S-1 form on March 7. The S-1 form, which registers securities with the SEC, is typically the first step in launching a new ETF.
This move by 21Shares and Nasdaq comes amid a broader push by crypto firms to bring digital asset-based ETFs to market. Under President Donald Trump’s pro-digital asset administration, several firms have made moves to launch ETFs tied to various cryptocurrencies. Alongside the Polkadot ETF, 21Shares has also filed for ETFs that track other major altcoins, including Solana (SOL) and XRP.
Additionally, Grayscale has also expressed interest in a spot DOT product, while Canary Capital is seeking approval for a SUI ETF, which could mark the debut of this new asset class.
As these filings unfold, the future of crypto ETFs remains uncertain, with the SEC’s decision likely to have major implications for the digital asset market.
For more updates on ETFs and crypto regulatory news, visit Crypto News and The Coin Info.
