Nasdaq Files to List Grayscale Polkadot Trust (DOT) ETF

The application represents a continuation of cryptocurrency-based investment product growth in traditional financial marketplaces.

Nasdaq has filed a request with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Polkadot Trust (DOT). The application continues the growth of cryptocurrency-based investment products in traditional financial marketplaces.

The successful approval of the Grayscale Polkadot ETF would grant institutional investors, in addition to retail investors, regulated access to Polkadot’s native token, DOT. The SEC has 45 days to review the proposal and decide whether to approve or reject it, or they can extend the evaluation period further.

This application follows the same path as other cryptocurrency ETF applications that have been submitted. The SEC authorized both Bitcoin (BTC) and Ethereum (ETH) spot ETFs while deferring judgement on funds linked to other cryptocurrencies. The approval or denial of this proposal will set a precedent for altcoin-based ETFs that could follow.

The company behind the Polkadot ETFs has also submitted applications for tracking Solana (SOL), Litecoin (LTC), XRP, Dogecoin (DOGE), and Cardano (ADA). The firm recently converted the XRP Trust into an ETF and launched investment funds that track Lido (LDO) and Optimism (OP).

Asset management company 21Shares also submitted a filing request for a Polkadot ETF, highlighting the growing institutional interest in this network.

The current acting SEC Chair, Mark Uyeda, has been making changes in regulatory policies. The SEC terminated multiple investigations concerning cryptocurrency platforms such as Coinbase, Robinhood and OpenSea. This new regulatory direction leads investors to anticipate that additional crypto ETFs will receive approval in the upcoming months.

Following the news of the Nasdaq filing, DOT price triggered a 5% increase, which then reversed to a 1% decrease, rendering the token at $4.69 in the last 24 hours. Market analysts predict DOT prices would rise to $17 in response to an approved exchange-traded fund (ETF), similar to reactions to previous crypto ETF approvals.

Polkadot’s Technical Indicators Show a Bull Pennant Pattern

The technical analysis shows Polkadot forming a bull pennant pattern that suggests an approaching price breakout. Crypto analyst Ali recognized $6.90 as an important resistance threshold, which indicates DOT might advance toward $17 if it surpasses this level

The Polkadot market maintained a tightening consolidation pattern from December 2024 mid-month until it produced substantial price increases. The token demonstrated a positive trend after it rose from $3.80 in November 2024 to nearly $10.50.

Analysts predict the token’s price will accelerate because of increasing institutional participation and potential ETF approval functioning as accelerating factors.

Approved, Polkadot would join Bitcoin and Ethereum in the regulated ETF space, potentially opening doors for more institutional adoption of the asset.