21Shares’ Polkadot ETF filing accepted by SEC, decision pending

The U.S. Securities and Exchange Commission has officially acknowledged Nasdaq’s filing for 21Shares’ Polkadot exchange-traded fund, marking a key step in the approval process.

The SEC has confirmed 21Shares Polkadot (DOT) ETF filing by Nasdaq, dated March 20. If it’s approved, the ETF would be listed on Nasdaq, allowing regular investors to invest in Polkadot without holding DOT directly.

Nasdaq has officially submitted the 19b-4 form to the SEC seeking approval to list a Polkadot ETF from 21Shares on March 17. The filing marks the second key step in the typical ETF approval process. On March 6, 21Shares submitted the updated S-1 registration statement, while the initial application was submitted on Jan. 31.

What does the acknowledgment mean?

With this filing, 21Shares joins Grayscale, which submitted its own application to list a spot Polkadot ETF on Nasdaq with the SEC on Feb. 25.

The acknowledgment by the SEC means that the regulatory body has kickstarted the formal evaluation period. During this time, the SEC will solicit public comments, assess the potential market impact, and determine whether the proposed Polkadot spot ETF complies with regulatory standards.

While the acknowledgment of the filing is a positive development for Polkadot, it’s important to note that the SEC has been slow and cautious in approving crypto ETFs, especially ones beyond Ethereum (ETH) and Bitcoin (BTC). They’ve delayed decisions on other ETFs like Ripple (XRP), Solana (SOL), and Litecoin (LTC), making it uncertain whether the Polkadot ETF will be approved quickly.