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Grayscale is doubling down on its crypto ETF strategy with a push into Polkadot (DOT-USD). The firm has filed with the U.S. Securities and Exchange Commission (SEC) to launch a Polkadot ETF, adding to its growing lineup of crypto funds.
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Grayscale Adds Polkadot to ETF Plans
The Nasdaq exchange has formally submitted a request to the SEC to list and trade shares of the Grayscale Polkadot Trust (DOT). This kicks off a 45-day review period where regulators will decide whether to approve, reject, or extend the process.
This follows Grayscale’s recent filings to convert its XRP Trust into an ETF and to launch a spot Cardano ETF. The move comes as the SEC under the Trump administration adopts a more crypto-friendly stance, dropping multiple industry investigations, including cases against Robinhood (HOOD) and OpenSea.
Polkadot Joins the ETF Race
Grayscale isn’t the only one eyeing Polkadot. Last month, 21Shares also filed for a spot Polkadot ETF, signaling growing institutional interest in the token.
Currently, DOT is trading at $4.3670 after a 13.2% drop over the last five days. The wider crypto market downturn has weighed on prices, but ETF approval could inject fresh momentum into Polkadot’s adoption.
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