Grayscale files for Polkadot ETF listing on Nasdaq
Digital asset management firm Grayscale has filed with the U.S. Securities and Exchange Commission (SEC) to launch a Polkadot exchange-traded fund (ETF) on the Nasdaq.
Grayscale, a digital asset management firm, is seeking to launch a Polkadot exchange-traded fund (ETF) on the Nasdaq. They have submitted an application to the U.S. Securities and Exchange Commission (SEC) for approval.
This ETF would enable investors to gain exposure to the Polkadot network's DOT token, aiming to mirror its price fluctuations. This approach allows investors to participate in Polkadot without the need to directly hold the token.
The initiative has garnered support from major players, including Coinbase, a cryptocurrency exchange, and Bank of New York Mellon (BNY), indicating strong confidence in the ETF's potential. Earlier this month, 21Shares, another asset management company, also filed for a Polkadot ETF, making Grayscale's application the second of its kind this year.
Interest in cryptocurrency-focused ETFs is on the rise as investors seek new avenues for digital asset investment.
However, some experts express skepticism about the Polkadot ETF's prospects, questioning whether there is sufficient demand. The ETF must receive SEC approval before it can commence trading.
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