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- Nasdaq files for SEC approval to list 21Shares’ Polkadot ETF, enabling indirect DOT exposure without direct token ownership.
- Grayscale joins 21Shares in pursuing Polkadot ETFs, signaling institutional demand for regulated crypto investment vehicles.
Nasdaq has formally requested regulatory clearance to launch an exchange-traded fund (ETF) tracking Polkadot’s native token, DOT. The proposal, filed with the U.S. Securities and Exchange Commission (SEC) under Form 19b-4, would allow investors to gain exposure to Polkadot’s market performance without purchasing or storing the cryptocurrency themselves.
Managed by Swiss firm 21Shares, the ETF would mirror DOT’s price movements. Polkadot, currently ranked 27th among cryptocurrencies by market size, has a total valuation of roughly $6.7 billion as of recent data.
This follows 21Shares’ revised regulatory submission outlining plans for investment vehicles tied to crypto assets. The firm seeks to offer a streamlined path for traditional investors to participate in cryptocurrency markets through regulated funds, avoiding the technical complexities of direct token ownership.
Alongside the Polkadot ETF, 21Shares is pursuing similar products for Solana and XRP. Meanwhile, asset manager Grayscale has also applied to introduce its own Polkadot ETF, reflecting heightened demand for institutional-grade exposure to the token.
Polkadot ETF Regulatory Delays and Competing Proposals
The SEC has yet to approve any of the recently proposed cryptocurrency ETFs, including those targeting XRP, Solana, Litecoin, and Dogecoin. Regulatory hesitancy persists due to concerns over market stability and investor safeguards. In parallel, 21Shares is evaluating a staking mechanism for its planned Ethereum ETF, which could enable investors to earn rewards by supporting blockchain operations.
News of Nasdaq’s filing initially correlated with a minor rise in DOT’s value, though the token later retreated by approximately 1.12%. ETHNews analysts observe that DOT’s price, now near $4.40, faces immediate barriers at $4.60 and $4.90. Should downward pressure persist, levels around $4.32, $4.13, and $3.83 may serve as stabilization points.
As of today, Polkadot (DOT) is trading at $4.42, reflecting a 1.14% increase in the past 24 hours. Over the past week, DOT has gained 14.29%, but in the last month, it has dropped 11.93%. Its year-to-date performance is down 33.41%, and over the past year, it has fallen 56.13%. Despite this, DOT remains 111.63% higher since its inception, showing long-term growth potential.
Technical Analysis & Predictions
- Short-term (1-2 weeks): DOT is currently showing bullish momentum, with support at $4.20 and resistance at $4.50-$4.70. A breakout above this range could push the price toward $5.00.
- Mid-term (1-3 months): If DOT continues its recovery, it could reach $5.50-$6.00. However, if market conditions worsen, a drop toward $4.00 or lower is possible.
- Long-term (6-12 months): Given its historical performance and fundamental strength, DOT could target $7.00-$9.00, especially if institutional adoption and ecosystem growth improve.
Polkadot is currently in an accumulation phase, with analysts predicting a potential 70% upside if the trend holds. However, caution is advised due to its volatility and recent downtrend.
