What to know:
- The Nasdaq exchange decided it was time to have a chat with the SEC about listing shares of the Grayscale Polkadot Trust (DOT) — because who wouldn’t want to trade shares of something that sounds like a futuristic vegetable?
- Grayscale, feeling particularly ambitious, has also boldly ventured forth to transform its XRP Trust into an ETF while simultaneously attempting to unleash a spot Cardano ETF. Talk about multitasking!
- Polkadot’s DOT is currently performing a rather dramatic tango at $4.4 after waving goodbye to 6.7% of its value in the last 24 hours. Ouch. You’d think it was auditioning for a tragic play!
In a world where crypto asset-management companies like Grayscale Investments frolic about like over-caffeinated squirrels, they have now decided to do the unthinkable: add Polkadot’s DOT token to their dazzling array of offerings. Because what’s life without a little extra confusion?
The Nasdaq has filed a formal Form 19b-4 request with the U.S. Securities and Exchange Commission (SEC)—a move so thrilling it could make a sloth squeal with excitement—to list and trade shares of the Grayscale Polkadot Trust (DOT). This filing is so significant it might even warrant a 45-day review period! Brace yourselves!
Grayscale, a company that enjoys collecting bitcoins and ethers like a child collects stickers, has also decided to tango with the SEC by converting its XRP Trust into an exchange-traded fund and introducing a spot Cardano ETF to their personal playground. This bold move arrives just in time as the SEC pivots into a more friendly mode—apparently taking crypto under its wing as a beloved pet.
Interestingly, Grayscale has never offered a standalone Polkadot product, which makes this filing feel like a long-lost reunion party. They are now joining the range of asset managers, such as 21Shares, who recently attempted to jump on the Polkadot train with their own spot ETF. Can you hear the collective groan of all those waiting on the sidelines for actual stability instead of a crypto rollercoaster?
As of this writing, Polkadot’s DOT is low key trading at $4.4 after a theatrical loss of 6.7% in the last 24 hours—a performance that has left many in the cryptocurrency market shaking their heads and pondering their life choices.
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2025-02-25 17:39