- 21Shares filed for the first spot Polkadot ETF, aiming to list it on the Cboe BZX Exchange.
- Coinbase Custody will manage the storage of Polkadot (DOT) tokens for the ETF.
- Regulatory shifts under the Trump administration have sparked a surge in crypto product filings.
The crypto ETF race is heating up, and 21Shares just threw its hat into the ring with a bold move. On Friday, the company filed a registration with the U.S. Securities and Exchange Commission (SEC) for the first-ever spot Polkadot (DOT) ETF. If approved, the fund would trade on the Cboe BZX Exchange and track DOT’s performance. Coinbase Custody will handle the storage of Polkadot tokens, according to the filing.
This isn’t the only Polkadot ETF in the works. Earlier this week, Tuttle Capital also filed for ten leveraged crypto ETFs—one of which is based on Polkadot. Clearly, competition is ramping up as companies anticipate a shift in regulatory sentiment under the Trump administration.
A Changing Regulatory Landscape
Crypto product filings have surged lately, partly due to renewed optimism around regulatory shifts. Former SEC Chair Gary Gensler was notoriously wary of spot crypto ETFs, rejecting them repeatedly. However, after a pivotal court order last year, the agency finally caved, approving multiple spot Bitcoin ETFs. A few months later, they gave the nod to spot Ethereum ETFs too.
Now, all eyes are on Polkadot and whether 21Shares can break new ground in the expanding crypto-ETF market.
