In a move that could only be described as the financial equivalent of a Wildean wit, the grand Nasdaq has, with a flourish, submitted a request to list the Grayscale Polkadot ETF. A token of the Polkadot network, DOT (DOT), finds itself the subject of much ado about listing, as filings have so quaintly revealed. Should the SEC deign to approve, the Grayscale Polkadot Trust will join the ranks of the asset manager’s crypto funds, already a motley crew of publicly traded curiosities.
This application is but a leaf in the book of the SEC’s current to-do list, a tome filled with requests from exchanges and managers eager to list ETFs linked to the ever-so-colorful world of altcoins.
Of course, the SEC must don its most serious of expressions and give these filings a once-over before the market can commence its usual game of musical chairs.
Grayscale’s ETF Expansion: A Token of Ambition 🚀
Grayscale, never one to shy away from the limelight, already boasts two Bitcoin ETFs and an Ether ETF. The ambition does not stop there; Solana, Litecoin, XRP, Dogecoin, and Cardano are all lined up for their moment under the ETF sun.
In a further display of its insatiable appetite for diversification, Grayscale is also angling to list an ETF that is a veritable potpourri of cryptocurrencies, a smorgasbord of digital delights.
Grayscale operates a plethora of crypto funds that, like the best of secrets, are not whispered about on public exchanges.
Last February, the company launched an investment fund for the Pyth Network’s token, and in January, it introduced a non-listed fund for Dogecoin, the memecoin that has captured the hearts (and wallets) of many.
In December, it unveiled two new funds for Lido and Optimism’s governance tokens — LDO (LDO) and OP (OP) — a pair as matched as any couple at a Wildean ball.
Crypto ETF Filings: A Tale of Many Tokens 📜
Grayscale is but one in a chorus line of asset managers seeking the SEC’s blessing to list altcoin ETFs. Others have proposed ETFs for such varied tokens as Hedera and the enigmatic Official Trump (TRUMP).
Not to be outdone, 21Shares is also in the fray, seeking to list a Polkadot ETF of its own.
Issuers are playing a patient game, waiting for the SEC to nod in approval for proposed changes to existing ETFs, which include such novelties as staking, options, and in-kind redemptions.
The SEC, it seems, has softened its stance on cryptocurrency, perhaps inspired by the second coming of President Trump. Under the previous regime of President Biden, the agency was far more litigious, with over a hundred lawsuits against crypto firms.
In 2024, the SEC approved Bitcoin and Ether ETFs, but other cryptocurrencies found themselves at a standstill. Bloomberg Intelligence, ever the optimist, has placed the odds of an XRP ETF approval at 65%, with even higher odds for Litecoin and Solana. Such is the whimsy of the financial world.
Read More
- USD MXN PREDICTION
- Doctor Strange’s Shocking Return in Marvel’s Avengers: Doomsday Revealed!
- OM PREDICTION. OM cryptocurrency
- EUR JPY PREDICTION
- COW PREDICTION. COW cryptocurrency
- FIL PREDICTION. FIL cryptocurrency
- YFI PREDICTION. YFI cryptocurrency
- KSM PREDICTION. KSM cryptocurrency
- DF PREDICTION. DF cryptocurrency
- Starbucks Opens in Universal’s Epic Universe, Serving Employees Ahead of Grand Opening
2025-02-25 19:10