21Shares has filed with Nasdaq to list a Polkadot ETF, seeking approval from the U.S. Securities and Exchange Commission (SEC) to expand investment options for American investors.
This move could significantly impact Polkadot’s market presence and investor accessibility, sparking interest and volatility in the crypto market.
21Shares Aims for Nasdaq Polkadot ETF Debut
21Shares submitted a filing for a Polkadot ETF to be listed on Nasdaq, marking its latest initiative to integrate blockchain projects with traditional markets. This comes amid increased demand for regulated crypto investment products.
Ophelia Snyder, the President of 21Shares, expressed excitement about offering more regulated options. The approval process involves the SEC, a standard step in listing ETFs in the U.S. market.
Polkadot Faces 2.3% Daily Price Drop Amid News
The latest price data indicates that Polkadot (DOT) is currently trading at $4.41, experiencing a fluctuation within a recent 24-hour change of -2.3%. Analysts suggest this trend aligns with previous market movements, reflecting ongoing market volatility.
Expert James Seyffart notes the SEC’s workload with numerous crypto ETF filings. Regulated products like these could potentially lead to more technological integration within traditional finance, pending regulatory approvals.
21Shares Expands on 2021 Swiss Polkadot ETP Success
21Shares previously launched a Polkadot ETP in Switzerland in February 2021, setting an important precedent for similar ETFs. The recent filing echoes past efforts to integrate cryptocurrency assets into mainstream finance.
Gavin Wood, Polkadot’s founder, highlights the ongoing focus on developing the network’s capabilities. Analysts point to regulatory acceptance of such products as essential for wider adoption and stability in the crypto landscape.
“We welcome regulated investment products that can bring more exposure to Polkadot’s innovative technology. However, our focus remains on building out the network’s capabilities and fostering a vibrant ecosystem.” – Gavin Wood, Founder of Polkadot
