ECNETNews reports that Nasdaq has formally requested approval from the U.S. Securities and Exchange Commission to list a Polkadot ETF managed by 21Shares.
The filing submitted by Nasdaq aims to facilitate the trading of a Polkadot (DOT) exchange-traded fund, marking a significant move in the expanding cryptocurrency market.
This request, documented in a 19b-4 filing, represents the essential rule change proposal for the SEC, serving as a crucial step in the ETF application process.
Earlier this year, 21Shares initiated a spot DOT ETF filing and subsequently updated its S-1 application on March 7. The S-1 form is a registration of securities and is typically one of the initial steps in launching a new ETF.
As the regulatory landscape for cryptocurrency evolves, multiple entities are exploring cryptocurrency ETF opportunities. 21Shares has also filed for ETFs that track other altcoins like Solana (SOL) and XRP. Additionally, Grayscale has expressed interest in launching a spot DOT product, while Canary Capital is pursuing a SUI ETF, which could potentially be the first of its kind.
