Polkadot ETF filing by 21Shares marks milestone in crypto investment opportunities
Polkadot ETF filing by 21Shares marks milestone in crypto investment opportunities
21Shares has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to launch the 21Shares Polkadot Trust, a spot ETF that would track the performance of DOT, the native token of the Polkadot network.
If approved, the ETF would trade on the Cboe BZX Exchange and be custodied by Coinbase Custody Company, LLC. This marks the first spot Polkadot ETF filing in the U.S.
The move comes amid growing institutional interest in crypto investment products. Earlier this week, Tuttle Capital filed for 10 leveraged crypto ETFs, including one for Polkadot. Several asset managers have sought to expand crypto-based funds following the SEC’s recent approvals of spot Bitcoin and Ethereum ETFs.
Regulatory shifts could impact approval
The SEC’s stance on crypto ETFs has evolved in recent months. Former SEC Chair Gary Gensler had resisted spot Bitcoin ETF approvals, but a court ruling forced the agency to change its position. This led to the approval of multiple Bitcoin and Ethereum ETFs. The upcoming U.S. presidential election could further influence the regulatory landscape, potentially increasing the likelihood of additional spot crypto ETF approvals.
As market demand for regulated crypto investment products rises, the industry will be watching closely to see whether 21Shares’ Polkadot ETF gains SEC approval. If successful, it could pave the way for further diversification of crypto ETFs in the U.S.
Read also: Is BlackRock preparing to enter the XRP ETF race? Investors speculate
