The Securities and Exchange Commission (SEC) has delayed its decision on whether to approve the Exchange Trade Fund (ETF), which holds Polkadot’s native tokens.
According to On April 24, regulators extended the final sentence deadline until June 11, almost four months after seeking permission to list the Grayscale Polkadot Trust on February 24.
According to Bloomberg Intelligence, Grayscale’s ETF filing will be added to the roster of approximately 70 proposed ETFs awaiting SEC approval, including funds holding Altcoins, Memecoins and Crypto-related financial derivatives.
The asset manager says,[e]From XRP, Litecoin, Penguins from Solana, Doge and 2x Melania, everything in between, from Bloomberg Analyst Eric Balchunas I said Post on the X platform April 21st. Asset Manager 21Shares also awaits permission to list its own Polkadot ETFs.
Polkadot is a Layer-1 blockchain network released in 2020. Its native token, DOT (DOT), has a market capitalization of approximately $6.6 billion as of April 24th. According to Go to COINMARKETCAP.
Related: The agency breaks up with Ethereum, but keeps ETH on the hook
AltCoin ETF Pipeline
Grayscale is one of several asset managers seeking regulatory clearance to list US Altcoin ETFs. The company is already behind several crypto funds, including Spot Bitcoin (BTC) and Ether (ETH) ETFs.
The asset manager also asked for permission to launch ETFs that hold tokens such as Solana (SOL), Litecoin (LTC), XRP (XRP), Dogecoin (Doge), Cardano (ADA).
According to a March report from Coinbase and Ey-Parthenon, the proposed fund list pipeline said over 80% of institutional investors would promote allocations to Crypto in 2025.
However, analysts warn that demand for Altcoin ETFs is likely to be far more limited than funds that hold core cryptocurrencies such as Bitcoin and ether.
“Getting ETF-Ized to Coin is like being in a band and adding songs to all music streaming services,” says Balchunas.
“We don’t guarantee you’ll listen, but we put the music where the majority of listeners are.”
magazine: Is it Altcoin season a hit in Q2? Mantra Plans to Gain Trust: Hodler’s Digest, April 13-19
