The U.S. Securities and Exchange Commission (SEC) has officially acknowledged Nasdaq’s filing to list the 21Shares Polkadot (DOT) exchange-traded fund (ETF), marking a crucial step forward in the regulatory approval process for the proposed spot ETF.
The filing, dated March 20, confirms that the SEC has accepted the Form 19b-4 submission from Nasdaq, which was initially filed on March 17. If approved, the ETF would allow investors to gain exposure to Polkadot without directly purchasing or holding the DOT token, streamlining access to the blockchain protocol via traditional financial markets.
Second Major Step Toward Approval
This development follows the earlier submission of an updated S-1 registration statement by 21Shares on March 6, building on their initial application from January 31. The latest filing solidifies the firm’s intent to offer a regulated investment vehicle for Polkadot on Nasdaq.
With this move, 21Shares joins Grayscale, which also filed for a spot Polkadot ETF on February 25, adding to a growing list of asset managers seeking to expand crypto ETF offerings beyond Bitcoin and Ethereum.
What the SEC Acknowledgment Means
The SEC’s acknowledgment initiates the formal evaluation period, during which the regulatory agency will seek public comments, assess market implications, and determine whether the proposed ETF meets its regulatory standards. While the acceptance of the filing doesn’t imply approval, it does indicate the SEC is actively reviewing the proposal.
The process comes at a time when the SEC has historically taken a cautious approach toward spot crypto ETFs, particularly for altcoins like Ripple (XRP), Solana (SOL), and Litecoin (LTC). Despite growing demand for diversified crypto investment vehicles, the regulator has yet to approve any ETF beyond those tied to Bitcoin and Ethereum.
Outlook for the Polkadot ETF
Although the acknowledgment signals momentum, approval remains uncertain. The SEC has previously delayed or denied several similar filings, citing concerns over market manipulation, custody, and investor protection.
Still, the move is being viewed positively by the Polkadot community and crypto investors eager for broader ETF options. A successful launch could pave the way for other altcoin-focused ETFs and further legitimize DOT as a mainstream investment asset.
The industry will now closely watch the SEC’s response timeline and whether public sentiment and market maturity will influence its final decision.
