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Date: 2025-02-25 18:02:46
Investors may soon be able to monitor polkadot prices more conveniently as Nasdaq has submitted a request to the Securities and Exchange Commission (SEC) for the listing of Grayscale Polkadot Trust shares.
Nasdaq Stock Market has submitted a proposal to the SEC to list and trade shares of the Grayscale Polkadot Trust in accordance with the Nasdaq rule for commodity-based trust shares. This proposal is outlined in a recent filing. The trust, which is sponsored by two subsidiaries of Digital Currency Group, aims to provide exposure to polkadot, the native token of the Polkadot network.
Coinbase Custody Trust Company is named as the custodian in the filing, which is set for Federal Register publication, and BNY Mellon Asset Servicing is named as the administrator. The shares will be traded under the ticker symbol DOT.
The fund was launched in January 2021 and only holds polkadot. The amount of polkadot held by the fund determines the value of each share, which is based on a price from CoinDesk Indices after deducting fees. Instead of holding the tokens directly, investors can trade shares in large quantities. According to the filing, starting from May 3, 2025, only Grayscale Investments Sponsors will manage the fund.
Polkadot's decentralized platform utilizes DOT for governance, staking, and connecting parachains via its Relay Chain, a public ledger that records all transactions. According to crypto.news, the current price of Polkadot (DOT) is $4.37, representing a decrease of -6.11% over the past 7 days and -31.2% in the previous month.
If the SEC approves the listing of the Grayscale Polkadot Trust on Nasdaq, traditional investors will have a regulated option to invest in Polkadot, potentially increasing its adoption and liquidity.
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