2025-04-25
The U.S. Securities and Exchange
Commission (SEC) is taking more time to decide whether to approve a proposed
ETF (exchange-traded fund) of Polkadot’s native token, DOT.
In a filing on April 24, the SEC said
it will delay its decision until June 11.
This is nearly four months after Nasdaq
asked to list the Grayscale Polkadot Trust on February 24.
Grayscale’s Polkadot ETF is one of 72 crypto-related ETFs waiting for SEC approval.
These include ETFs for popular
cryptocurrencies like Solana, XRP, and Litecoin, as well as memecoins like
Dogecoin.
Another company, 21Shares, is also
trying to get approval for its own Polkadot ETF.
Polkadot is a blockchain network
launched in 2020. As of April 24, its token DOT had a market value of around
$6.6 billion.
Growing Interest in Crypto ETFs
Grayscale already manages other crypto
ETFs, including those for Bitcoin and Ether. It has also applied for ETFs for
other tokens like Solana, Litecoin, XRP, Dogecoin, and Cardano.
The push for more crypto ETFs comes as
more than 80% of institutional investors say they plan to increase their crypto
investments in 2025, according to a report by Coinbase and EY-Parthenon.
Still, experts say that while Bitcoin
and Ether ETFs have strong demand, altcoin ETFs might attract less interest.
As Bloomberg analyst Eric Balchunas put
it, having a token in an ETF is like having your song added to streaming
services. It doesn’t mean people will listen, but it gives you a better chance
to be seen.
