Nasdaq has officially submitted a request to the U.S. Securities and Exchange Commission (SEC) to permit Swiss asset management firm 21Shares to list and trade shares of a polkadot (DOT) exchange-traded fund (ETF).
The exchange filed a 19b-4 application with the SEC, seeking the necessary approval to list the ETF once it gets the green light from regulators.
This proposed fund aims to track the spot price of DOT, which is the native cryptocurrency of the Polkadot network. This filing follows an amended S-1 document submitted by 21Shares earlier in the year, marking a significant step in the company’s effort to introduce more cryptocurrency investment options to the market.
In addition, 21Shares is pursuing regulatory approvals for funds associated with XRP and solana’s SOL. Recently, the company announced plans to wind down two actively managed crypto ETFs due to the prevailing market challenges.
Grayscale Investments, a firm focused on crypto asset management, has also filed with the SEC to establish a Polkadot ETF, reflecting growing interest in this asset class.