The post 21Shares files for Polkadot ETF amid altcoin fund surge appeared on BitcoinEthereumNews.com.

Asset management firm 21Shares has filed its S-1 registration statement for the Polkadot ETF offering with the US Securities and Exchange Commission (SEC). This DOT-focused ETF is one of the more unusual crypto ETF applications made to the regulator this week. The 21Shares Polkadot ETF will track DOT prices using the CME CF Polkadot-Dollar Reference Rate. In addition to these updates, 21Shares noted that it will tap Coinbase Custody Trust Company, LLC, which will hold the assets for the ETF product if approved.  21Shares files Polkadot ETF while competition in the crypto ETF space grows As per the S-1 filing, 21Shares said the firm plans to list the Polkadot ETF on the Cboe BZX Exchange. The asset manager noted that the fund is a passive investment that does not seek to generate returns beyond tracking the price of DOT. Therefore, 21Shares pointed out that the funds will not conduct speculative trading, for instance, buying DOT low and selling high.  21Shares  informed potential investors that it would not pursue its investment objectives through leverage or derivative products. Instead, it will exclusively track the price of DOT as listed on the CME CF Polkadot-Dollar Reference Rate. The firm characterized the protocol as a decentralized, distributed computing platform that functions on a peer-to-peer network. The 21Shares filing follows Tuttle Capital Management’s proposal earlier this week for a 2x leveraged Polkadot ETF, which was part of a broader package of 10 leveraged crypto ETFs. Yet, ETF analyst Eric Balchunas confirmed that Tuttle Capital has withdrawn its filing for all 2x leveraged ETFs. This is not the first time 21Shares’ filing has been featured on the ETF front this week. As reported earlier, the Cboe exchange refiled its Solana 19b-4 application alongside those of VanEck, Canary Capital, and Bitwise. A few hours ago, Grayscale also…

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Filed under: News - @ February 1, 2025 5:25 am