The U.S.Securities and Exchange Commission (SEC) has officially recognized Nasdaq’s filing for 21Shares’ Polkadot exchange-traded fund (ETF). This is a significant step towards potential approval.
On March 20, the SEC confirmed the filing. If approved, this ETF would let everyday investors access Polkadot (DOT) without owning the token directly.
Nasdaq submitted the 19b-4 form to the SEC on March 17. This is the second major step in the ETF approval process. The initial application was made on January 31, with an updated S-1 registration statement following on March 6. The ETF would be listed on Nasdaq, making it easier for investors to invest in Polkadot.
What’s the significance of this acknowledgment? It means the SEC has started the formal evaluation. The SEC will gather public feedback, assess market impact, and check if the ETF meets regulatory standards. However, the SEC has been cautious with crypto ETFs, especially those beyond Bitcoin and Ethereum.
Grayscale has also submitted an application to list a Polkadot spot ETF on Nasdaq. The SEC’s acknowledgment starts the formal evaluation period. They will gather public comments and assess the market impact.
While this is a positive step for Polkadot, the SEC has been cautious with crypto ETFs. They have delayed decisions on other ETFs like Ripple, Solana, and Litecoin.Therefore, the approval timeline for the Polkadot ETF remains uncertain.
