- 21Shares filed for the primary spot Polkadot ETF, aiming to record it on the Cboe BZX Alternate.
- Coinbase Custody will handle the storage of Polkadot (DOT) tokens for the ETF.
- Regulatory shifts beneath the Trump administration have sparked a surge in crypto product filings.
The crypto ETF race is heating up, and 21Shares simply threw its hat into the ring with a daring transfer. On Friday, the corporate filed a registration with the U.S. Securities and Alternate Fee (SEC) for the first-ever spot Polkadot (DOT) ETF. If permitted, the fund would commerce on the Cboe BZX Alternate and observe DOT’s efficiency. Coinbase Custody will deal with the storage of Polkadot tokens, in response to the submitting.
This isn’t the one Polkadot ETF within the works. Earlier this week, Tuttle Capital additionally filed for ten leveraged crypto ETFs—one in all which relies on Polkadot. Clearly, competitors is ramping up as firms anticipate a shift in regulatory sentiment beneath the Trump administration.
A Altering Regulatory Panorama
Crypto product filings have surged currently, partly on account of renewed optimism round regulatory shifts. Former SEC Chair Gary Gensler was notoriously cautious of spot crypto ETFs, rejecting them repeatedly. Nonetheless, after a pivotal court docket order final 12 months, the company lastly caved, approving a number of spot Bitcoin ETFs. A couple of months later, they gave the nod to identify Ethereum ETFs too.
Now, all eyes are on Polkadot and whether or not 21Shares can break new floor within the increasing crypto-ETF market.