Nasdaq has formally requested approval from the U.S. Securities and Exchange Commission to launch a 21Shares Polkadot ETF.
The exchange has submitted the necessary documentation to the SEC for the trading of an exchange-traded fund based on Polkadot (DOT), which is being managed by 21Shares.
The document, known as 19b-4, serves as a proposal for a rule change and marks the second part of the typical ETF filing process with the SEC.
Earlier this year, 21Shares filed to establish a spot DOT ETF and revised its S-1 application on March 7. The S-1 form is a securities registration document, commonly one of the initial procedures for launching a new ETF.
Numerous initiatives have emerged in the realm of crypto ETF submissions since President Donald Trump’s administration took a favorable stance towards digital assets. Additionally, 21Shares has sought ETFs related to other cryptocurrencies like Solana (SOL) and XRP. Grayscale has also pursued a spot DOT product, and Canary Capital is aiming for a SUI ETF, which could potentially be a groundbreaking entry in the market.