- Polkadot’s ETF filing by 21Shares has been acknowledged by the SEC, marking a crucial step in the approval process.
- Polkadot investors eagerly await the SEC’s decision, which could pave the way for broader institutional adoption.
The U.S. Securities and Exchange Commission (SEC) has taken a crucial step in the approval process for 21Shares’ Polkadot (DOT) exchange-traded fund (ETF), marking a significant development for the cryptocurrency industry. Nasdaq’s filing for the ETF has been officially acknowledged, signaling the beginning of the SEC’s formal evaluation period.
A Major Milestone for Polkadot ETF
Nasdaq submitted the 19b-4 form on March 17, seeking approval to list the Polkadot ETF from 21Shares. The ETF aims to provide traditional investors exposure to Polkadot without the need to hold DOT directly. This follows 21Shares’ updated S-1 registration statement submitted on March 6, with the initial application dating back to January 31.
With this acknowledgment, 21Shares joins Grayscale, which also filed an application to list a spot Polkadot ETF on Nasdaq on February 25. The SEC’s acknowledgment means the regulatory agency will now solicit public comments, assess market impact, and determine if the Polkadot ETF meets regulatory requirements.
Will the SEC Approve the Polkadot ETF?
While this is a positive step for Polkadot, approval remains uncertain. The SEC has historically been slow in approving crypto ETFs beyond Bitcoin (BTC) and Ethereum (ETH). The agency has delayed decisions on ETFs for other major cryptocurrencies like Ripple (XRP), Solana (SOL), and Litecoin (LTC), making it unclear if the Polkadot ETF will receive swift approval.
If approved, the ETF could significantly boost institutional and retail investor interest in Polkadot, potentially driving its adoption and price growth. For now, the crypto community awaits the SEC’s decision, which will set a precedent for future altcoin ETFs in the U.S. market.
