The U.S. Securities and Exchange Commission (SEC) has officially recognized Nasdaq’s filing for 21Shares’ Polkadot exchange-traded fund (ETF). This is a meaningful step towards potential approval.
On March 20, the SEC confirmed the filing of 21Shares’ Polkadot (DOT) ETF by Nasdaq. If approved, this ETF will be listed on Nasdaq, enabling regular investors to invest in Polkadot without directly holding DOT.
Nasdaq submitted the 19b-4 form to the SEC on March 17, marking the second key step in the ETF approval process. 21Shares had initially applied on January 31 and updated the S-1 registration statement on March 6.
What does this mean for Polkadot?
This acknowledgment means the SEC has started the formal evaluation period. The SEC will gather public comments, assess market impact, and check if the proposed ETF meets regulatory standards.
21Shares now joins Grayscale, which also applied to list a Polkadot spot ETF on Nasdaq with the SEC on February 25.
While this is good news for Polkadot, the SEC has been cautious with crypto ETFs beyond Ethereum and Bitcoin. decisions on other crypto ETFs, like Ripple, Solana, and Litecoin, have been delayed. Therefore, the Polkadot ETF’s approval timeline remains uncertain.
