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Nasdaq has formally requested the U.S. Securities and Exchange Commission (SEC) for permission to list a 21Shares Polkadot Exchange-Traded Fund (ETF). The application marks a significant step in introducing another crypto-backed investment product to the market.
To proceed with the ETF listing, Nasdaq submitted a 19b-4 filing, a proposal requesting a rule change that would allow Polkadot ETF trading. This represents the second stage of the approval process, following the earlier submission by 21Shares.
On March 7, 21Shares updated its S-1 registration statement, a standard form companies use to register securities before public offerings. This regulatory process aligns with the increasing interest in cryptocurrency ETFs, particularly under the current Trump administration’s more pro-digital asset stance.
The push for Polkadot ETFs comes amid broader efforts to introduce various digital asset investment products. 21Shares has also applied for ETFs linked to other cryptocurrencies, including Solana (SOL) and XRP (XRP). Additionally, Grayscale has filed for its own spot DOT ETF, while Canary Capital aims to launch a SUI ETF, potentially setting a precedent as the first of its kind.
These filings highlight the growing demand for crypto exposure in traditional financial markets. With Nasdaq’s involvement, the momentum for regulated digital asset products continues to gain traction.
The SEC’s decision will be closely monitored by investors and industry leaders, as approval could further solidify Polkadot’s position as a prominent blockchain network. If successful, the 21Shares Polkadot ETF would provide an accessible investment option for those seeking exposure to DOT without directly holding the cryptocurrency.