Nasdaq Aims to List Grayscale Polkadot ETF
The Nasdaq stock exchange has submitted a request to offer a Grayscale exchange-traded fund (ETF) that would include the native token of the Polkadot network, DOT, according to recent filings.
If greenlighted, the Grayscale Polkadot Trust would join the asset manager’s growing collection of crypto funds available to the public.
This application is part of a broader trend, with numerous filings by various exchanges and asset managers to the US Securities and Exchange Commission (SEC) aiming to launch ETFs connected to various alternative cryptocurrencies, or altcoins.
The SEC is required to evaluate and authorize these applications before trading can start.
Grayscale currently offers two spot Bitcoin ETFs and a spot Ether ETF and is looking to launch ETFs that would include Solana, Litecoin, XRP, Dogecoin, and Cardano.
Furthermore, the asset manager is applying for approval to offer an ETF that would feature a mixed selection of cryptocurrencies, encompassing various altcoins.
Grayscale manages numerous single-asset crypto funds that do not trade on public exchanges.
In February, the company initiated an investment fund for the native token of the Pyth Network.
In January, it started a non-listed investment fund for Dogecoin, the leading memecoin in terms of market capitalization.
In December, Grayscale introduced two new investment funds for the governance tokens of Lido and Optimism — LDO and OP, respectively.
Grayscale is one of several asset managers pursuing SEC approval to list ETFs based on altcoins.
Proposals from other issuers include ETFs for altcoins like Hedera and Official Trump (TRUMP).
Asset manager 21Shares is also looking to list a Polkadot ETF.
Issuers are also awaiting the SEC's decision on proposed changes to existing ETFs that would allow for staking, options, and in-kind redemptions.
The SEC's approach to cryptocurrency relaxed after US President Donald Trump began his second term.
Under the previous administration of President Joe Biden, the agency initiated over 100 lawsuits against crypto companies, alleging violations of securities laws.
In 2024, the SEC approved spot Bitcoin and Ethereum ETFs but blocked proposals tied to other cryptocurrencies.
Bloomberg Intelligence puts the likelihood of an XRP ETF being approved in the US at 65%.
It also predicts even higher approval chances for Litecoin and Solana ETFs, at 90% and 70%, respectively.
Sources:
https://cointelegraph.com/news/nasdaq-files-grayscalepolkadot-etf
https://listingcenter.nasdaq.com/assets/rulebook/nasdaq/filings/SR-NASDAQ-2025-019.pdf
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