Issuers Propose New Crypto ETFs Including Grayscale’s Polkadot Product
Recent developments in the cryptocurrency ETF landscape include:
- Grayscale Investments intends to offer a Polkadot ETF, indicated by a 19b-4 filing with Nasdaq.
- 21Shares has also proposed a similar Polkadot ETF recently.
- Polkadot (DOT) currently has a market cap of nearly $7 billion, ranking 26th among crypto assets.
- The Grayscale filing is not for converting an existing trust into an ETF, as it does not have a trust for DOT yet.
- Grayscale's typical process involves private placements before public offerings, but it has bypassed initial steps for its Cardano ETF filing, which the SEC is reviewing.
- Nasdaq recently filed to list shares of Canary Capital’s proposed HBAR ETF, related to Hedera's cryptocurrency.
- The momentum around altcoin ETF filings remains consistent.