The asset management company 21SHARES has submitted to the US Securities and Exchange Commission (SEC) and launched Polkadot Exchange-Traded Fund (ETF).
January 31 seconds Submission21SHARES, describes the intention of listing 21Shares Polkadot (Dot) Trust on Cboe BZX Exchange, and Cryptocurrency Exchange Coinbase works as a dot custodian.
The 21 share will come in Switzerland just four years later when a similar product is released. In February 2021, Asset Manager launched the world's first Polkadot ETP in Swiss Six Exchange.
Whether Polkadot ETF is valuable, the market is “decided”
Polkadot is the 18th largest code depending on the market capitalization, but recently the price performance has been overwhelmed. According to CoinmarketCap, the price has fallen by 5.16 % for the past 12 months, decreasing 10.48 % last month. data。
Polkadot is traded for $ 6.42 at the time of publication. sauce: coinmarketcap
Filing warned that Polkadot did not guarantee a short -term or long -term price performance after the ETF was started.
“There is no guarantee that DOT will maintain its value in the long or mid -term,” Filing states.
“If the price of DOT declines, the sponsor expects the value of the stock to decrease in proportion.”
Bloomberg ETF analyst Analyst James Seifert said that the market would ultimately decide if there was a demand for Polkadot ETF.
“The market decides where the value is worth it and whether it is worth the launch of such a product. If no one puts money in the Polkadot ETF, it will close. Seyffart 1 At X, 31st, Seyffart states: post。
Filing explains the potential risks related to the Polkadut Network. These include the potential increase in dot supply available for transactions, and the possibility that DOT could be classified as “under federal law”.
Polkadot's security concerns are closed
Web3 Foundation, which supports the Polkadot protocol, opposed the security in February 2023 and took measures to manage the distribution of dot token, so that individuals will not retain most of the network. Was stated that he had taken.
He also refused to purchase from a venture capitalist who was interested in investment purposes only, and said that it focused on promoting Polkadot technology rather than tokens itself.
Related: The 1st anniversary of Bitcoin ETFS in the United States: Surprisingly higher than expectations
Submitting a 21 share will follow Crypto's skeptical Galey Gensler as a SEC chair on January 20. The departure of Gensler caused the waves of cryptographic ETF filing before and after the resignation date.
The day after Gensler resigned, according to the Submissions on January 21, Gensler resigned, and the Asset Managers OSPREY FUNDS and REX shares submitted to release Memecoin's ETF.
Meanwhile, recently, the SEC has given an initial approval to the Bitwise Asset Management ETF, “Bitwise Bitcoin and Ethereum ETF”, and tracks the price of bitcoin (BTC) and Ethereum (ETH) with a single fund. 。
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