SEC postpones decision to approve Polkadot ETF

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.