Polkadot (DOT) has shown resilience despite the recent crypto market downturn, following Nasdaq’s request with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Polkadot ETF. This move aligns with recent filings for similar altcoin ETFs, including XRP and Cardano, sparking fresh optimism for institutional investment in Polkadot.
Nasdaq Pushes for Grayscale Polkadot ETF Listing
Nasdaq has officially submitted Form 19b-4 to the SEC to list and trade shares of the Grayscale Polkadot Trust (DOT). If approved, this ETF would provide investors with regulated exposure to Polkadot’s native token, potentially increasing its mainstream adoption. The SEC has 45 days to review the application, with the option to approve, deny, or extend the review process.
Grayscale’s move mirrors the recent efforts of 21Shares, which filed for a spot Polkadot ETF last month. DOT saw a brief 4% surge in response to the news before experiencing a 6% pullback, settling at $4.4.
Polkadot ETF: Part of a Broader Crypto Strategy
Grayscale has been expanding its ETF offerings amid a shifting regulatory landscape. Alongside Polkadot, the firm has applied to convert its XRP Trust into an ETF and filed for a spot Cardano ETF. There is growing speculation that ETFs for Solana (SOL), Dogecoin (DOGE), and Litecoin (LTC) could follow soon.
Under the leadership of acting SEC chair Mark Uyeda, the commission has displayed a more open stance toward digital assets, recently dropping investigations against major crypto firms like Robinhood, Coinbase, and OpenSea. Analysts suggest this regulatory shift may improve the likelihood of multiple spot crypto ETF approvals.
Will Polkadot (DOT) Surge to $34?
Crypto analysts are closely monitoring Polkadot’s price action, with some predicting a potential rally to $34 if key resistance levels are surpassed. The first major resistance stands at $6, followed by $11—a level tested twice but yet to be broken. A decisive move above $11 could set the stage for a bullish breakout toward the $34 mark.
Also Read: Polkadot (DOT) Appears Set for 27% Surge – Here’s What’s Driving the Rally!
As ETF applications increase and institutional interest in crypto grows, Polkadot’s price trajectory will remain a focal point for investors in the coming months.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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