Cryptocurrency asset administration firm 21Shares has launched the first spot Polkadot ($DOT) ETF in the United States. The fund, buying and selling beneath the ticker image TDOT, has begun buying and selling on the Nasdaq alternate.
Bloomberg ETF analyst Eric Balchunas acknowledged that the fund was initially launched with $11 million in seed capital and has a 0.3% administration charge. Spot crypto ETFs permit traders to be uncovered to the worth actions of digital belongings with out straight buying them.
Based on 21Shares, Polkadot is a blockchain community designed to attach completely different impartial blockchains and allow cross-network interoperability. The community’s native token, $DOT, presently has a market capitalization of roughly $1.7 billion.
The corporate had beforehand launched spot ETF merchandise that monitor the worth of digital belongings resembling Bitcoin, XRP, Solana, Dogecoin, and Sui. With TDOT, Polkadot has additionally joined the ranks of crypto belongings that may be invested in by means of an ETF construction in the US.
*This isn’t funding recommendation.
