- Nasdaq files for SEC approval to list Grayscale’s Polkadot ETF, potentially driving institutional interest in DOT.
- DOT trades at $4.44 with resistance at $6.2; ETF approval could boost liquidity and institutional adoption.
Nasdaq has filed for SEC approval to list and trade shares of Grayscale’s proposed Polkadot ETF, marking a potential milestone for DOT’s institutional adoption. The investment fund would track Polkadot’s spot price and trade under the ticker “DOT” if approved.
Grayscale aims to provide investors with a regulated way to gain exposure to Polkadot, adding to its expanding crypto ETF portfolio. As institutional interest in digital assets grows, analysts are weighing the potential impact on DOT’s market performance and liquidity.
Nasdaq Files 19b-4 for Grayscale’s Polkadot ETF
Nasdaq submitted Form 19b-4 to the U.S. Securities and Exchange Commission (SEC), a necessary regulatory step for listing new investment products. The Grayscale Polkadot Trust would offer investors direct exposure to DOT through an exchange-traded fund without requiring them to hold the asset themselves.
According to the filing, CSC Delaware Trust Company would serve as the trustee, while Coinbase Custody Trust Company, LLC would act as the custodian. Other key players include BNY Mellon, which would oversee administration, and CoinDesk Indices, Inc., responsible for the fund’s benchmark tracking.
This is the second DOT-focused ETF application this year. Earlier this month, 21Shares filed with the SEC to launch a spot Polkadot ETF, showing growing institutional interest in the asset. However, skepticism remains. Bloomberg Intelligence analyst James Seyffart pointed out that Polkadot’s ETF viability depends on market demand, stating, “If no one puts money into a Polkadot ETF, it will close.”
Grayscale Expands Crypto ETF Portfolio
Grayscale continues to push for more crypto-based ETFs, with its Polkadot filing joining a growing list of proposals. The firm has already applied to convert its XRP Trust into an ETF while also seeking SEC approval for ETFs tied to Solana (SOL), Dogecoin (DOGE), Cardano (ADA), and Litecoin (LTC).
The SEC’s response to these filings could shape the future of altcoin ETFs in the U.S. Recently, the regulator acknowledged Grayscale’s Dogecoin and XRP ETF applications, marking the first step in a longer review process.
Meanwhile, Grayscale’s proposed Cardano ETF has sparked optimism, with Ethnews reporting that ADA’s ETF approval odds stand at 64%, potentially opening doors for institutional investment by August 2025.
Despite Nasdaq’s ETF filing, the asset briefly rose 4% following the announcement but later retraced. At the time of writing, Polkadot trades around $4.44, down 6% in the past 24 hours, with a market cap of $6.6 billion, ranking it the 26th largest cryptocurrency.
Market analysts are closely watching DOT’s technical indicators. The Relative Strength Index (RSI) is near 50%, suggesting potential momentum shifts. If buying pressure increases, DOT could target resistance at $6.2, with further upside potential at $7.7 and $9.8. However, if DOT falls below $4.8, it could decline further to $3.5 or even $1.9.
