"Nasdaq's Polkadot ETF Filing Sparks DOT Price Speculation"

Nasdaq has submitted a filing with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Polkadot ETF, which has sparked speculation about the potential price movement of DOT, Polkadot's native token. Following similar filings for other altcoins like XRP and Cardano, analysts are now anticipating a rise in DOT's price if the Polkadot ETF gains approval.

Grayscale Investments, the firm behind the ETF, aims to offer investors regulated exposure to Polkadot's native token. The SEC now has a 45-day review period to acknowledge the filing, after which it can approve, deny, or extend the review process. This filing follows a similar request from 21Shares, which submitted an application for a spot Polkadot ETF late last month. Following the Polkadot ETF filing, DOT price saw a brief 4% increase before declining 6% in the last 24 hours, trading at $4.4.

Grayscale has been increasing its ETF offerings as regulatory sentiment toward cryptocurrencies evolves. Along with the Polkadot ETF, the company has recently applied to convert its XRP Trust into an ETF and filed for a spot Cardano ETF, which has been acknowledged. Other potential products tied to digital assets such as Solana (SOL), Dogecoin (DOGE), and Litecoin (LTC) are also being considered.

These filings come as the US SEC, under the Trump administration, has adopted a more open stance toward digital assets under the leadership of acting US SEC chair Mark Uyeda. The regulator recently dropped several crypto-related investigations, including cases against Robinhood, Coinbase, and the NFT marketplace OpenSea. Consequently, market analysts believe this shift could improve the chances of approval for multiple spot crypto ETFs.

The Polkadot ETF filing is part of a broader trend of increasing institutional interest in cryptocurrency investment products. Recently, Tuttle Capital Management proposed a leveraged 2x Polkadot ETF but later withdrew its filings for all leveraged crypto ETFs.

Despite the recent pullback, market analysts believe that DOT's price could see a substantial upside if key resistance levels are broken. The first major resistance level stands