21shares registers Polkadot trust in Delaware in preparation for ETF

Bitget App

Trade smarter

Bitget

News

CryptoSlate2024/12/20 15:11

By:Gino Matos

The filing is a potential DOT-indexed exchange-traded fund, a part of a wave of new ETFs expected by analysts.

21shares registered a trust in Delaware on Dec. 19, called the 21Shares Polkadot Trust, for a potential exchange-traded product indexed to Polkadot ( DOT ).

As of press time, 21shares has not spoken publicly about the filing.

DOT is the 20th largest crypto, priced at $7.07 and boasting a market cap of nearly $10.8 billion as of press time.

This is 21Shares’ latest effort in the crypto-related exchange-traded products (ETP) sector. In addition to its Bitcoin ( BTC ) and Ethereum ( ETH ) spot exchange-traded funds (ETF) in the US, the firm filed for spot Solana ( SOL ) and XRP ETF s and an Injective ( INJ ) ETP this year.

‘New wave’ of crypto ETFs

Bloomberg ETF analysts Eric Balchunas and James Seyffart already expected a new wave of crypto ETP filings , although only next year.

According to their predictions, BTC-ETH mixed index would be the first new ETPs approved, while Litecoin ( LTC ) and Hedera Hashgraph ( HBAR ) would come later.

Solana and XRP ETFs, on the other hand, have uncertain outcomes as their regulatory status is unclear.

The new filings, including a Hedera ( HBAR ) ETF filed by Canary Capital on Nov. 12, result from President-elect Donald Trump’s win in the US. His notorious pro-crypto stance is making ETF issuers optimistic about the regulatory landscape, prompting the creation of more products.

Moreover, Paul Atkins’ nomination as the new US Securities and Exchange Commission (SEC) added to the crypto industry’s bullishness. Atkins is a known advocate for innovation and has been the co-chairman of the Digital Chamber’s Token Alliance since 2017.

Polkadot Market Data

At the time of press 11:11 pm UTC on Dec. 19, 2024, Polkadot is ranked #17 by market cap and the price is down 8.9% over the past 24 hours. Polkadot has a market capitalization of $10.77 billion with a 24-hour trading volume of $989.08 million. Learn more about Polkadot ›

Crypto Market Summary

At the time of press 11:11 pm UTC on Dec. 19, 2024, the total crypto market is valued at at $3.36 trillion with a 24-hour volume of $283.29 billion. Bitcoin dominance is currently at 57.57%. Learn more about the crypto market ›

Disclaimer: CryptoSlate has received a grant from the Polkadot Foundation to produce content about the Polkadot ecosystem. While the Foundation supports our coverage, we maintain full editorial independence and control over the content we publish.

Mentioned in this article

Polkadot Bitcoin Ethereum Solana XRP Injective Litecoin Hedera 21shares Donald Trump Paul Atkins

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!