Grayscale Pushes for Polkadot ETF Amid SEC’s Evolving Crypto Stance
Grayscale Investments is expanding its ETF ambitions, now setting its sights on Polkadot’s DOT token after recently filing for XRP and Cardano exchange-traded funds (ETFs).
Nasdaq has submitted a Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Polkadot Trust (DOT). This initiates a 45-day review period, during which the SEC will decide to approve, deny, or extend the evaluation process.
Grayscale, already offering Bitcoin and Ethereum ETFs, has been actively growing its ETF lineup. In recent weeks, it has moved to convert its XRP Trust into an ETF and filed for a spot Cardano ETF. These efforts coincide with a shifting regulatory environment, as the SEC—under the Trump administration—adopts a more accommodative stance toward crypto. The agency has recently dropped multiple investigations into digital asset firms, including Robinhood and NFT marketplace OpenSea.
While Grayscale has never offered a dedicated Polkadot investment product, this filing marks its entry into the space, competing with 21Shares, which submitted its own Polkadot ETF proposal last month.
At the time of writing, Polkadot’s DOT is trading at $4.40, down 6.7% over the past 24 hours amid a broader crypto market decline.
