Key takeout
- Nasdaq is seeking SEC approval from Grayscale to list and trade new investment funds related to Polkadot.
- Dot has a market capitalization of $6.6 billion, making it the 26th largest cryptocurrency.
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NASDAQ filed Form 19B-4 with the SEC and seeks approval to list and trade stocks Greyscale Spot Polka Dot ETF. The proposed fund tracking the spot prices of Polkadot's native coindots is expected to trade under the ticker symbol “Dot”.
As the sponsor behind the fund, Grayscale Investment aims to provide investors with regulated and accessible means to touch Polkadot's native tokens. In addition to the Polkadot ETF, Grayscale has made a regulatory nod to provide ETFs tied to other digital assets such as XRP, Solana (Sol), Dogecoin (Doge), Cardano (ADA), and Litecoin (LTC). I'm looking for it.
The 19B-4 form is a critical regulatory submission required to propose changes to rules that allow exchanges to list and trade. new Securities such as Spot Crypto ETF. The NASDAQ application is the second active dot-focused fund application, following the 21 share S-1 registration.
Tuttle Capital Management previously proposed a leveraged 2x Polkadot ETF as part of a broader application for 10 leveraged cryptographic ETFs. However, shortly after its initial submission, the company retracted its proposal for all of its double leveraged ETFs.
DOT, currently ranked as the 26th largest crypto asset, rose 4%, following ETF Filing News, according to Coingecko data. The token's market capitalization is $6.6 billion.
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