Nasdaq Seeks SEC Approval for Grayscale's Polkadot ETF

According to sources, Nasdaq has filed Form 19b-4 with the Securities and Exchange Commission (SEC) seeking approval for the possible listing of Grayscale's Polkadot ETF.

This move comes as Grayscale continues with its plans to convert crypto trusts into Exchange Traded Funds (ETFs), responding to the growing demand for regulated investment products in the crypto sector.

Grayscale enters the race to ETFs

The proposed registration specifies that Nasdaq intends to trade and list Grayscale's trust Polkadot (DOT) under the Commodity-Based Trust Shares regulation.

The news was further confirmed by a post from crypto analyst Eric Balchunas, who said:

"Grayscale has just submitted an application for a Polkadot ETF."

Grayscale launched the Grayscale Polkadot Trust in 2021 with the aim of offering private investors structured exposure to DOT. This application is an important step towards making Polkadot tradable on regulated platforms. If the company obtains ETF approval, it will be possible to increase liquidity and encourage wider adoption of the Polkadot ecosystem.

Not only that, the SEC also considered requests 19b-4 for Grayscale Dogecoin ETFs (DOGE) and XRP.