Grayscale files for a spot Polkadot ETF

Grayscale Investments has submitted an application to the Securities and Exchange Commission (SEC) to launch a spot exchange-traded fund (ETF) tied to Polkadot (DOT), the native token of the Polkadot blockchain.

Announced on February 25, 2025, by Bloomberg senior ETF analyst Eric Balchunas via X, this filing marks another step in Grayscale’s aggressive push to expand its suite of regulated crypto investment products.

Eric Balchunas

@EricBalchunas

·Follow

Grayscale just filed for a Polkadot ETF

5:52 pm · 25 Feb 2025

472

Reply

Copy link

Read 74 replies

Nasdaq has acted fast and filed a Form 19b-4 to list and trade the proposed DOT fund under the ticker symbol “DOT,” underscoring the growing institutional interest in Polkadot amid a crowded field of altcoin ETF applications.

The filing of the 19b-4 by Nasdaq is a critical step, as this form initiates the SEC’s formal review of proposed rule changes needed to list new securities like spot crypto ETFs.

Several other firms have filed for a Polkadot ETF

Polkadot, known for its interoperable blockchain protocol, has garnered attention for its technical innovation, making it an appealing candidate for institutional products like exchange-traded funds.

Notably, Grayscale’s Polkadot ETF filing is not the first in the race to bring DOT-focused funds to market.

Earlier in February, asset manager 21Shares submitted its own S-1 registration for a Polkadot Trust, aiming to list on the Cboe BZX Exchange with Coinbase as custodian.

Tuttle Capital Management also briefly entered the fray with a proposal for a leveraged 2x Polkadot ETF as part of a broader set of 10 leveraged crypto ETFs, only to withdraw those plans shortly after filing.

The convergence of these ETF efforts highlights Polkadot’s rising profile, currently ranked as the 26th largest crypto asset with a market capitalization of $6.6 billion, according to CoinGecko data.

Grayscale’s Polkadot ETF, if approved, would provide investors with a regulated vehicle to gain exposure to DOT without directly holding the cryptocurrency, a model that has proven successful with its existing Bitcoin and Ethereum products.

While the outcome remains pending, the flurry of filings from Grayscale, 21Shares, and others reflects a maturing crypto market eager to bridge traditional finance and digital assets, even as prices face short-term volatility.

Polkadot price shows a muted response

Despite the buzz surrounding Grayscale’s filing, Polkadot’s price showed a muted immediate response amid a broader market downturn.

At press time, DOT hovered around $4.44, reflecting a decline of over 6% in the previous 24 hours, though it had rebounded slightly from a daily low of $4.15.

However, following Nasdaq’s filing news, the token saw a modest 4% uptick, suggesting some investor optimism about the ETF’s potential.

While the ETF filing news often sends coins through the roof, Polkadot (DOT) seems under pressure from today’s crypto market bloodbath that has seen Bitcoin drop below $88k.

Although there were speculations that DOT could see a 500% price surge following a period of consolidation between February 22, and February 24, it remains to be seen how fast it can recover from today’s dip.

The post Grayscale files for a spot Polkadot ETF appeared first on Invezz