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    Home»Crypto News»Grayscale seeks SEC approval for Polkadot ETF on Nasdaq
    Grayscale seeks SEC approval for Polkadot ETF on Nasdaq
    Crypto News

    Grayscale seeks SEC approval for Polkadot ETF on Nasdaq

    By Crypto EditorFebruary 25, 2025No Comments2 Mins Read
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    Grayscale, a number one digital asset administration firm, has utilized to the US Securities and Change Fee (SEC) to launch a Polkadot exchange-traded fund (ETF) on the Nasdaq trade.

    Based on the Feb. 25 submitting, the ETF goals to show traders to Polkadot’s DOT by monitoring the token’s value efficiency.

    The submitting said:

    “[This] is a proposal to listing and commerce shares of the Grayscale Polkadot Belief (DOT) (the ‘Belief’) below Nasdaq Rule 5711(d) (‘Commodity-Primarily based Belief Shares’).”

    Based on the submitting, the ETF’s sponsors embrace Grayscale Working LLC and Grayscale Investments Sponsors LLC, each subsidiaries of Digital Forex Group, Inc.

    The proposal identifies CSC Delaware Belief Firm because the trustee and Coinbase Custody Belief Firm, LLC because the custodian.

    BNY Mellon Asset Servicing will oversee administration and switch duties, whereas Foreside Fund Providers, LLC will deal with distribution and advertising. CoinDesk Indices, Inc. will function the belief’s index supplier.

    Polkadot ETFs

    In the meantime, that is the second Polkadot ETF software submitted this yr. Earlier this month, asset administration agency 21Shares additionally filed with the SEC to launch a spot Polkadot ETF.

    Regardless of this rising curiosity in crypto ETFs, some market analysts stay skeptical in regards to the success of a Polkadot-focused fund.

    Bloomberg Intelligence analyst James Seyffart highlighted that Polkadot ETF submitting confronted vital criticism. Nevertheless, he emphasised that the market in the end determines the worth of those merchandise.

    He wrote:

    “The market will resolve the place worth lies. If nobody places cash right into a Polkadot ETF it’ll shut.”

    Grayscale’s increasing portfolio

    Grayscale’s software highlights the agency’s ambition to broaden its vary of crypto ETF choices.

    If accredited, the Polkadot ETF would be part of the agency’s intensive portfolio of crypto merchandise, which already contains ETFs centered on belongings corresponding to Bitcoin and Ethereum.

    In January, Grayscale utilized to transform its XRP Belief into an ETF and introduced plans to launch a Cardano ETF. Moreover, the corporate created a belief to supply institutional traders entry to Dogecoin.

    The SEC just lately acknowledged Grayscale’s Dogecoin and XRP ETF purposes, marking the preliminary step within the regulatory evaluate course of that would in the end resolve the destiny of those funds

    Disclaimer: CryptoSlate has obtained a grant from the Polkadot Basis to supply content material in regards to the Polkadot ecosystem. Whereas the Basis helps our protection, we keep full editorial independence and management over the content material we publish.

    Talked about on this article
    Grayscale seeks SEC approval for Polkadot ETF on NasdaqGrayscale seeks SEC approval for Polkadot ETF on Nasdaq



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