21Shares Files for Spot Polkadot ETF

Exchange-traded fund-focused firm 21Shares has filed for a spot Polkadot ETF to obtain approval from the U.S. Securities and Exchange Commission (SEC).

The firm submitted a registration statement on Friday for the 21Shares Polkadot Trust, marking it as the first of its kind. The ETF would trade on the Cboe BZX Exchange, Inc. and is designed to track the performance of DOT, the native token of the Polkadot Network. Coinbase Custody Company, LLC will provide custody for its DOT holdings, as per the statement.

Earlier in the week, Tuttle Capital also filed for 10 leveraged crypto ETFs, which includes one tracking Polkadot.

Numerous firms have applied to introduce new crypto products in the U.S. in anticipation of a changing regulatory landscape under the Trump administration. For example, former SEC Chair Gary Gensler was initially reluctant to approve spot bitcoin ETF trading; however, after a court order, approvals were granted. Following the approval of spot bitcoin ETFs, the SEC also authorized spot Ethereum ETFs.