Yigit Taha OZTURK 
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on whether to approve an exchange-traded fund (ETF) containing Polkadot’s native token. According to a filing on April 24, a final ruling on the Grayscale Polkadot Trust has been extended to June 11. The application was initially submitted by Nasdaq on February 24.
Grayscale joins around 70 other pending ETF filings, which include proposals for altcoins, memecoins, and crypto-based financial instruments. Bloomberg’s Eric Balchunas noted that asset managers are pitching ETFs for “everything from XRP, Litecoin, and Solana to Doge, 2x Melania, and more.”
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Launched in 2020, Polkadot is a layer-1 blockchain network. Its native token DOT was priced at $4.34 as of April 24, with a market cap of around $6.6 billion.
Grayscale’s ETF Vision Extends Beyond Bitcoin And Ethereum
Grayscale isn’t limiting its ETF ambitions to just Bitcoin (BTC) and Ethereum (ETH). It has also filed to launch funds for Solana (SOL), Litecoin (LTC), XRP, Dogecoin (DOGE), and Cardano (ADA).
As competition in the crypto investment space heats up, other asset managers like 21Shares are also awaiting approval for their Polkadot ETF.
A March report by Coinbase and EY-Parthenon revealed that over 80% of institutional investors plan to increase their crypto allocations in 2025. Still, analysts caution that demand for altcoin ETFs may lag behind interest in major crypto assets like Bitcoin and Ethereum.
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