- SEC officially acknowledges 21Shares’ Polkadot ETF filing.
- The evaluation phase begins with public comments and market impact assessments.
- SEC’s cautious stance on crypto ETFs may delay Polkadot’s approval.
The U.S. Securities and Exchange Commission (SEC) has officially acknowledged the filing of 21Shares’ Polkadot Exchange-Traded Fund (ETF), submitted by Nasdaq. This move, made on March 20, is a significant development in the ongoing process of launching a Polkadot-focused ETF in the U.S. market. If approved, the ETF would allow retail investors to access Polkadot (DOT) without holding the cryptocurrency directly.
Filing Marks Progress in the Approval Process
The official filing was submitted by Nasdaq on March 17 in the form of the 19b-4 document, marking the second step in the ETF approval process. Prior to this, 21Shares filed an updated S-1 registration statement on March 6. The first application, submitted on January 31, laid the groundwork for the current submission.
With the SEC’s acknowledgment, the evaluation period for the Polkadot ETF has now begun. During this phase, the SEC will solicit public comments and assess the potential market impact. The review process will also examine whether the proposed ETF meets the necessary regulatory standards before it can proceed.
Comparison to Other ETF Applications
This marks an important step for 21Shares, which follows Grayscale’s recent efforts to launch its own spot Polkadot ETF. Grayscale submitted a similar application to the SEC on February 25, positioning Polkadot as a key cryptocurrency for ETF investors.
However, the SEC has been cautious in approving crypto ETFs beyond Bitcoin (BTC) and Ethereum (ETH). The regulator has delayed decisions on several other proposals, including those for Ripple (XRP), Solana (SOL), and Litecoin (LTC). This cautious approach creates uncertainty about how soon the SEC may approve the Polkadot ETF.
If approved, the 21Shares Polkadot ETF would allow investors to access Polkadot via the Cboe BZX Exchange. This development could attract institutional investors and further integrate Polkadot into traditional financial markets.
