Nasdaq Makes Formal Request to SEC for Approval of Surprise Altcoin Spot ETF

Nasdaq has submitted a formal request to the U.S. Securities and Exchange Commission (SEC) to approve the listing and trading of shares of the Polkadot (DOT) exchange-traded fund (ETF) proposed by Swiss asset manager 21Shares.

The exchange’s 19b-4 filing seeks regulatory permission to list the ETF, subject to SEC approval. The fund aims to track the spot price of DOT, the native cryptocurrency of the Polkadot network. This latest development follows 21Shares’ amended S-1 filing earlier this year, which reinforced the firm’s commitment to expanding its suite of crypto investment products.

In addition to the Polkadot ETF, 21Shares is actively pursuing SEC approval for ETFs linked to XRP and Solana (SOL).

Grayscale Investments, another big name in crypto asset management, also filed with the SEC for its Polkadot ETF.

In addition, asset managers for many altcoins, including Cardano, XRP, and Solana, have filed spot ETF applications and are awaiting SEC review. The altcoin spot ETF applications were filed after crypto-friendly US President Donald Trump took office.

*This is not investment advice.