21Shares submits Nasdaq-backed Polkadot ETF application

Nasdaq has formally requested approval from the U.S. Securities and Exchange Commission (SEC) to list a Polkadot ETF issued by 21Shares.

Nasdaq has submitted official paperwork to the SEC to permit the trading of a Polkadot (DOT) exchange-traded fund (ETF) issued by 21Shares, a wealth management firm.

The 19b-4 document filed by Nasdaq is also known as a proposal for rule change. This document represents the second half of a typical ETF filing process with the SEC.

Earlier this year, 21Shares submitted a spot DOT ETF filing and updated its S-1 application on March 7. The S-1 form, also known as a registration of securities, is usually one of the initial steps in bringing a new ETF to market.

Several companies have attempted to file for crypto ETFs under the new pro-digital asset administration led by President Donald Trump. 21Shares has also filed for ETFs tracking other altcoins like Solana (SOL) and (XRP). Grayscale has also filed for a spot DOT product, while Canary Capital is seeking a SUI ETF, which could potentially be the first of its kind.