As the number of altcoin ETF filings rises in the U.S., 21Shares has filed with the U.S. SEC to launch a spot Polkadot ETF. The firm aims to list the 21Shares Polkadot Trust on the Cboe BZX exchange, with Coinbase as the custodian for the DOT token. The filing was submitted on January 31.
This move comes four years after 21Shares launched the world’s first Polkadot exchange-traded product (ETP) on the Swiss SIX exchange in February 2021. Now, the firm hopes to replicate that success by offering U.S. investors a chance to invest in Polkadot through an ETF.
However, the filing comes with a warning: there’s no guarantee that Polkadot’s price will remain stable, either short-term or long-term. This reflects the unpredictable nature of cryptocurrencies, even in ETF form. The firm made it clear, saying,
“There is no assurance that DOT will retain its value in the long or intermediate term.”
The filing also highlighted potential risks associated with the Polkadot Network. For instance, an increase in DOT’s supply could affect its price. Additionally, there’s a risk that DOT could be classified as a security under federal laws, which could change how it is regulated and traded.
Bloomberg analyst James Seyffart shared his view on the ETF, stating that the market will determine whether it succeeds or fails. “If no one puts money into a Polkadot ETF, it will close,” he said on X. “People are free to launch whatever ETFs are allowed by the SEC.” His comment suggests that investor demand will be key to the ETF’s success.
21Shares’ filing is part of a larger trend. After SEC Chairman gary gensler
Other asset managers, like Osprey Funds and REX Shares, also filed to launch ETFs for memecoins like Dogecoin, Official Trump (TRUMP), and Bonk. This spike in ETF applications highlights the growing interest in altcoins, particularly after Gensler’s resignation.
As 21Shares takes another step toward broadening crypto investment options, the spotlight is firmly on Polkadot, and the market will soon reveal if this new ETF can capture the interest of investors.
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