Grayscale files for Polkadot ETF

• Grayscale has filed a Polkadot ETF application with the Securities and Exchange Commission (SEC).
• It’s the latest spot ETF application, with this one on Polkadot joining the filing by 21Shares earlier this month.

Grayscale Investments has filed for a Polkadot (DOT) exchange-traded fund, the latest in a series of crypto ETF applications issuers have submitted in the past few months.

Bloomberg senior ETF analyst Eric Balchunas shared the news on X on Feb. 25.

With the broader market down as prices crashed, news of Grayscale’s filing for a Polkadot (DOT) ETF, did not have an immediate impact on DOT price. At the time of writing, the altcoin’s value hovered around $4.44, down more than 6% in the past 24 hours.

However, Polkadot’s price had bounced slightly from lows of $4.15 seen earlier in the day.

Grayscale adds to Polkadot spot ETF filings

Grayscale is one of the digital asset managers to aggressively launch various crypto products.

Among its spot ETF applications before the Securities and Exchange Commission are filings for listing and trading of Litecoin, XRP, Cardano, Dogecoin and Solana exchange-traded funds.

The Grayscale Polkadot Trust is the latest spot ETF application.

With Nasdaq Market’s filing of the proposed rule change, the DOT ETF filing joins others already eyeing SEC approval. Importantly, the SEC has acknowledged several of forms 19b-4, setting the ball rolling in that process towards final approval or rejection.

Notably, Grayscale’s filing of the 19b-4 comes a few weeks after asset manager 21Shares filed for a Polkadot ETF. The company’s proposed 21Shares Polkadot Trust looks to list on the Cboe BZX Exchange, with Coinbase as the custodian.

Recently, Canary Capital filed the 19b-4 for its HBAR spot ETF. The asset manager’s filing came a few days after it amended its S-1 filing.

According to Balchunas, the move means the SEC gave comments on the HBAR ETF.

What this means is that HBAR and Litecoin have the “best odds” of getting approved among the altcoin ETF filings, the analyst posted on X.