Grayscale Aims for Polkadot ETF Listing on Nasdaq, Could Spark Institutional Investment in Altcoins

Grayscale Investments has submitted a proposal to the SEC seeking approval for a Polkadot (DOT) exchange-traded fund (ETF). This move could unlock significant investment opportunities in alternative cryptocurrencies beyond Bitcoin and Ethereum. The news triggered a 4% surge in DOT’s price, reaching a market capitalization exceeding $6.6 billion. Analysts predict further volatility as the SEC’s decision on this application will likely impact future altcoin ETF developments and set regulatory precedent for crypto investments.