21Shares Files Spot Polkadot ETF as Crypto ETFs Gain Momentum
- 21Shares fild with th SEC on Jn. 31 to lunch spot Polkadot ETF on Cboe BZX.
- Th filing wrns of risks lik DOTs pric voltility nd potntil scurity clssifiction undr U.S. lws.
- Gry Gnslrs rsigntion on Jn. 20 triggrd surg in nw crypto ETF filings.
Asst mngmnt firm 21Shares hs formlly submittd filing to th U.S. Scuritis nd Exchng Commission (SEC) for th lunch of spot Polkadot xchng-trdd fund (ETF). Th filing, dtd Jn. 31, lys out plns to list th 21Shares Polkadot Trust on th Cboe BZX xchng, with Coinbs srving s th DOT custodin.
This mov coms four yrs ftr 21Shares introducd similr product in Switzrlnd. Bck in Fbrury 2021, th compny lunchd th worlds first Polkadot ETP on th Swiss SIX xchng, mrking significnt milston for th digitl sst industry.
Polkadot currntly holds th 18th position in th globl cryptocurrncy rnkings by mrkt cpitliztion. Howvr, its rcnt pric trjctory hs bn fr from imprssiv. Ovr th pst yr, Polkadots vlu hs droppd by 5%, with stpr dclin of ovr 10% in just th pst 30 dys, ccording to CoinMrktCp.
Risks and Uncertainties for Polkadot ETF
Whil 21Shares pushs forwrd with its ETF plns, th compny cknowldgs tht mrkt prformnc rmins unprdictbl. Th filing xplicitly wrns tht th ETFs lunch offrs no gurnts rgrding Polkadots pric stbility in ithr th short or long trm.
Thr is no ssurnc tht DOT will mintin its vlu in th long or intrmdit trm, th documnt stts. In th vnt tht th pric of DOT dclins, th Sponsor xpcts th vlu of th Shrs to dclin proportiontly.
Th filing lso outlind svrl risks tid to th Polkadot Ntwork. Ths risks includ th potntil for n incrsd supply of DOT tokns vilbl for trding nd th possibility of DOT bing clssifid s scurity undr fdrl lws.
New Crypto ETFs Follow Gensler Exit
Intrstingly, 21Shares filing coms shortly ftr th rsigntion of Gry Gnslr, th formr SEC chir known for his criticl stnc on cryptocurrncis. Gnslr stppd down on Jnury 20, nd his dprtur pprd to triggr flurry of nw crypto ETF filings. Just dy ltr, sst mngrs Ospry Funds nd REX Shrs submittd filings for ETFs tid to mmcoins, including Dogcoin, Officil Trump (TRUMP), nd Bonk.
In nothr rcnt dvlopmnt, th SEC grntd initil pprovl to Bitwis Asst Mngmnts ETF, dsignd to trck both Bitcoin nd Ethrum prics within singl fund. This dcision rflcts brodr trnd of incrsing intrst nd ctivity in th crypto ETF spc following shifts in rgultory ldrship.
21Shares pursuit of spot Polkadot ETF could signl growing pptit for divrsifid crypto invstmnt vhicls, spcilly s th rgultory nvironmnt continus to volv.
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Read more: https://www.tronweekly.com/21shares-files-spot-polkadot-etf/
Text source: TronWeekly
