Nasdaq and Grayscale want to extend investing choices with a planned DOT-focused fund.
Nasdaq has submitted Form 19b-4 to the SEC, requesting permission to list and trade shares of Grayscale’s Polkadot ETF. The planned fund, which would follow the spot price of Polkadot’s native coin, DOT, is expected to use the ticker symbol “DOT.”
Grayscale Investments, the fund’s sponsor, seeks to give investors a regulated and accessible way to obtain exposure to Polkadot’s native coin. In addition to the Polkadot ETF, Grayscale is looking for regulatory approval to launch ETFs linked to additional digital currencies like as XRP, Solana (SOL), Dogecoin (DOGE), Cardano (ADA), and Litecoin (LTC).
The 19b-4 form is a critical regulatory file necessary for exchanges to propose rule modifications that would allow for the listing and trading of new securities, such as spot crypto ETFs. Nasdaq’s filing is the second active DOT-focused fund application after 21Shares’ S-1 registration late last month.
Tuttle Capital Management earlier proposed a leveraged 2x Polkadot ETF as part of a larger application for ten leveraged cryptocurrency ETFs. However, soon after the first submission, the business withdrew plans for all of its 2x leveraged ETFs.
According to CoinGecko statistics, DOT, now rated as the 26th biggest cryptocurrency asset, increased by 4% in response to the ETF registration news. The token’s market capitalization is $6.6 billion.
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