21Shares recordsdata for Polkadot ETF, marking the second DOT-focused fund submitting this week

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Key Takeaways

21Shares has filed for a Polkadot ETF with the SEC, aiming to listing shares monitoring DOT’s worth on the Cboe BZX Trade.
This marks the second Polkadot ETF submitting this week, following Tuttle Capital’s leveraged 2x DOT ETF proposal.

21Shares has submitted an S-1 registration to the Securities and Trade Fee for a Polkadot ETF, aiming to listing shares on the Cboe BZX Trade.

The proposed 21Shares Polkadot Belief will monitor the agency’s current Polkadot Belief and use the CME CF Polkadot-Greenback Reference Charge to watch DOT costs, with Coinbase Custody serving because the custodian.

The fund will preserve a passive funding technique, avoiding leverage, derivatives, and lively buying and selling actions.

This submitting follows Tuttle Capital Administration’s proposal earlier this week for a leveraged 2x Polkadot ETF, a part of a broader submission for 10 leveraged crypto ETFs.

Nevertheless, ETF analyst Eric Balchunas confirmed in a publish on X that Tuttle Capital withdrew its submitting for all of its 2x leveraged ETFs.

Balchunas famous that such withdrawals usually happen when regulators sign considerations to issuers. He additionally highlighted that the Trump and Dogecoin ETF filings from Rex haven’t been withdrawn, suggesting early indications of the place the SEC could also be drawing the road.

Tuttle Capital Administration’s leveraged 2x ETF submission included property resembling Polkadot, XRP, Solana, Litecoin, Cardano, Chainlink, BNB, Bonk, TRUMP, and MELANIA tokens.

Polkadot’s native token DOT surged 3% in response to the ETF submitting, reaching a excessive of $6.42 earlier than settling at $6.35 at press time. Its market cap at the moment stands at $9.4 billion.

The digital asset at the moment trades 88% under its November 2021 peak of $55, when it reached a market cap of $55 billion.

21Shares’ newest submitting builds on its prior makes an attempt to broaden its crypto funding choices within the US, together with Solana and XRP ETFs filed in 2024, and most not too long ago, an in-kind redemption ETF for Bitcoin and Ethereum.