Key Takeaways
- Nasdaq has submitted a 19b-4 form to the SEC seeking approval for a Polkadot spot ETF from Grayscale.
- DOT’s market cap is $6.6 billion, making it the 26th largest crypto asset.
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Nasdaq has submitted Form 19b-4 to the SEC seeking approval to list and trade shares of Grayscale’s spot Polkadot ETF, which aims to track the spot price of DOT. The proposed ticker symbol for the ETF is “DOT”.
The 19b-4 form is a crucial regulatory filing required for exchanges to propose rule changes that would allow the listing and trading of new securities, such as spot cryptocurrency ETFs. This development follows increasing momentum and regulatory advancements in the crypto ETF space.
The filing represents the second active DOT-focused fund application, following 21Shares, after Tuttle Capital Management withdrew its filing for leveraged ETF products, according to ETF analyst Eric Balchunas.
DOT, currently ranked as the 26th largest crypto asset by market capitalization, rose 4% following the ETF filing news, reaching $4.4. The token’s market capitalization stands at $6.6 billion.
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