Nasdaq Files SEC Application for Grayscale Polkadot ETF

Nasdaq has submitted a 19b-4 filing to the SEC for the Grayscale Polkadot ETF, aiming to provide a regulated investment vehicle for both institutional and retail investors looking to gain exposure to Polkadot (DOT). This move is part of Grayscale's strategy to convert its crypto trusts into ETFs, which has been fueled by increasing demand for such products. The proposed ETF would track the price performance of DOT and is backed by notable financial institutions, including Coinbase Custody Trust Company as the custodian. This application comes amid a growing interest in crypto ETFs, with another firm, 21Shares, also filing for a Polkadot ETF recently. If approved, the Grayscale ETF could enhance liquidity and institutional adoption of the DOT ecosystem, marking a significant advancement for cryptocurrency investments on traditional exchanges. The filing follows recent acknowledgment by the SEC of Grayscale's applications for ETFs focused on XRP and Dogecoin.