Nasdaq files to list Grayscale Polkadot ETF

US securities trade Nasdaq has requested to list a Grayscale exchange-traded fund (ETF) holding the Polkadot community’s native token, DOT (DOT), filings confirmed. If accredited, the Grayscale Polkadot Belief would add to the asset supervisor’s increasing suite of publicly traded crypto funds. 

The submitting provides to the litany of purposes with the US Securities and Alternate Fee by exchanges and asset managers in search of to list ETFs tied to different cryptocurrencies, or altcoins.

The SEC should overview and approve the filings earlier than buying and selling can begin.

Associated: Grayscale launches Pyth investment fund

Grayscale’s ETF enlargement

Grayscale already lists two spot Bitcoin (BTC) ETFs and a spot Ether (ETH) ETF. Additionally it is in search of to list ETFs holding Solana (SOL), Litecoin (LTC), XRP (XRP), Dogecoin (DOGE) and Cardano (ADA). 

Moreover, the asset supervisor is in search of permission to list an ETF holding a diversified basket of cryptocurrencies, together with a number of altcoins. 

Grayscale operates dozens of single-asset crypto funds that aren’t traded on public exchanges. 

In February, the corporate launched an funding fund for the Pyth Network’s native token. In January, it launched a non-listed funding fund for Dogecoin, the most well-liked memecoin by market capitalization. 

In December, Grayscale launched two new funding funds for Lido and Optimism’s governance tokens — LDO (LDO) and OP (OP), respectively.

Associated: SEC acknowledges filing for Grayscale’s spot Cardano ETF

Crypto ETF filings proliferate

Grayscale is amongst upward of half a dozen asset managers in search of the SEC’s approval to list altcoin ETFs. Different issuers have proposed ETFs for altcoins, together with Hedera (HBAR) and Official Trump (TRUMP). 

Asset supervisor 21Shares can also be in search of to list a Polkadot ETF.

Issuers are additionally ready on SEC approval for proposed modifications to current ETFs, together with allowances for staking, choices and in-kind redemptions. 

The SEC softened its stance on cryptocurrency after US President Donald Trump began his second time period.

Beneath former President Joe Biden, the federal company introduced upward of 100 lawsuits towards crypto companies, alleging varied securities legislation violations. In 2024, the SEC accredited spot Bitcoin and Ether ETFs however stymied proposed ETFs tied to different cryptocurrencies. 

Bloomberg Intelligence has set the percentages of an XRP ETF approval within the US at 65%. Its estimates for Litecoin and Solana ETF approval odds are even greater, at 90% and 70%, respectively.

Journal: Unstablecoins: Depegging, bank runs and other risks loom