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

The American Securities and Exchange committee officially recognized the Nasdaq deposit for the Polkadot ‘grant fund of 21Shares, marking a key step in the approval process.

The dry has confirmed 21Shares Polkadot (POINT) FNB deposit by Nasdaq, dated March 20. If it is approved, the ETF would be registered on the Nasdaq, allowing regular investors to invest in Polkadot without directly holding a dowry.

Nasdaq officially has subject Form 19B-4 to the SEC requesting the approval to list an ETF Polkadot of 21Shares on March 17. The deposit marks the second key step in the typical FNB approval process. March 6, 21Shares subject The S-1 registration declaration update, while the initial request was submitted on January 31.

What does recognition mean?

With this file, 21Shares joins Grayscale, who submitted his own request to list an ETF Polkadot Spot on Nasdaq with the dry on February 25.

Recognition of the SEC means that the regulatory body has launched the formal evaluation period. Meanwhile, the SEC will request public comments, will assess the potential impact of the market and determine whether the proposed Polkadot Spot ETF is in accordance with regulatory standards.

Although recognition of the deposit is a positive development for Polkadot, it is important to note that the SEC has been slow and cautious to approve the Crypto ETF, in particular those beyond Ethereum (Ethn) and Bitcoin (BTC). They have delayed Decisions on other ETFs like Ripple (Xrp), Solana (GROUND), and Litecoin (Thal), which makes uncertain if the FNB Polkadot will be approved quickly.