Key Takeaways:
- Nasdaq has applied to list Grayscale’s Polkadot ETF, highlighting the increasing demand for altcoin investment vehicles.
- The SEC’s evolving stance on crypto, potentially influenced by the new administration, is increasing the likelihood of altcoin ETF approvals.
- If approved, analysts suggest that DOT could see a substantial price surge.
Nasdaq Filing to List Grayscale Polkadot ETF in an Altcoin ETF Frenzy
Nasdaq, a prominent US securities exchange, has in fact submitted a request to the Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Polkadot Trust (DOT). The move adds to the increasingly crowded list of proposed altcoin ETFs seeking regulatory approval and further illustrates the institutional appetite for cryptocurrencies beyond Bitcoin and Ethereum. If approved, this would give investors exposure to a regulated, exchange-traded fund of the native DOT token for the Polkadot network.
Nasdaq’s proposal
Grayscale — ETF ambitions, expansiveness
Grayscale Investments has been around the block when it comes to ETFs. They already oversee spot Bitcoin ETFs, a spot Ether ETF and have signaled a desire to launch similar offerings based on other digital assets. Proposing a Polkadot ETF falls in line with their overall strategy to enhance their lineup of publicly traded crypto funds.
After Bitcoin and Ether: Broadening the Bet on Crypto
Grayscale is not limiting its focus to Polkadot. They have expressed interest in listing altcoin ETFs, with holdings across a wide variety of cryptocurrencies such as Solana (SOL), Litecoin (LTC), XRP, Dogecoin (DOGE) and Cardano (ADA). They are also looking to list an ETF that would hold a diverse array of cryptocurrencies, which would align with what they envisage as a complete investment ecosystem for all things crypto.
Grayscale’s Current Crypto Product Range
Grayscale also runs dozens of single-asset crypto funds, though these are not traded on public exchanges. On February 15, 2025, they further demonstrated their commitment to emerging crypto assets by launching an investment fund for the Pyth Network’s native token. They also launched a non-listed investment fund for Dogecoin back in January, capitalizing on the rise of this meme-inspired cryptocurrency. In December last year, Grayscale announced the launch of two new products tied to investment funds with Lido and Optimism’s governance tokens, namely LDO and OP.
The Altcoin ETF Gold Rush
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