Nasdaq Files Proposal to List Grayscale Polkadot Trust Shares with the SEC

Nasdaq Stock Market has submitted a proposal to the Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Polkadot Trust under the Nasdaq rule for commodity-based trust shares. The trust, sponsored by two subsidiaries of Digital Currency Group, aims to provide exposure to Polkadot (DOT), the native token of the Polkadot network.

Key Details of the Filing

The filing, detailed in a Securities and Exchange Commission notice set for Federal Register publication, names Coinbase Custody Trust Company as custodian and BNY Mellon Asset Servicing as administrator. The shares will trade under the ticker DOT.

Understanding the Grayscale Polkadot Trust

The Grayscale Polkadot Trust, launched in January 2021, holds only Polkadot and each share reflects the amount of Polkadot the fund holds, based on a price from CoinDesk Indices after deducting fees. Investors can trade shares in large batches rather than holding the tokens directly. After May 3, 2025, only Grayscale Investments Sponsors will manage the fund.

Polkadot’s Decentralized Platform

Polkadot’s decentralized platform uses DOT for governance, staking, and connecting parachains via its Relay Chain, a public ledger recording all transactions. Currently, Polkadot (DOT) is priced at $4.37 and has experienced a dip of -6.11% and -31.2% over the last 7 days and in the past month, respectively.

Potential Benefits of SEC Approval

If the SEC approves, listing the Grayscale Polkadot Trust on Nasdaq would give traditional investors a regulated option to invest in Polkadot, potentially increasing its adoption and liquidity. This could be a significant development for the Polkadot ecosystem, providing more opportunities for investors to engage with the asset.

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