Grayscale Files Registration Statements for Polkadot and Cardano ETFs, Boosting Institutional Access to Altcoins.

Grayscale has filed S-1 registration statements with the SEC to launch spot ETFs for Polkadot and Cardano. This move aims to enhance institutional access to altcoins and may influence market dynamics. The SEC's final decisions, expected by October 2025, could unlock capital flows. Grayscale's efforts build on previous filings and align with growing institutional interest in cryptocurrencies.

Grayscale has submitted S-1 registration statements with the U.S. Securities and Exchange Commission (SEC) to launch spot ETFs for Polkadot (DOT) and Cardano (ADA). These filings aim to enhance institutional access to altcoins and could influence market dynamics. The SEC's final decisions, expected by October 2025, could unlock significant capital flows into these cryptocurrencies.

The new filings are updates to earlier 19b-4 applications submitted in February 2025. Grayscale’s approach for these ETFs follows a straightforward model, holding actual crypto assets and avoiding leverage or complex derivatives. This structure mirrors Grayscale’s existing Bitcoin and Ethereum products [1].

The Polkadot ETF would trade on Nasdaq under the ticker DOT, while the Cardano ETF would trade on NYSE Arca with the ticker GADA. Each ETF will track pricing indices published by CoinDesk, with Coinbase Custody providing custody services for both funds [1].

The SEC has extended its review period for the Cardano ETF proposal, pushing the review deadline from August to late October 2025. The ETF, if approved, would operate under NYSE Arca’s commodity-based trust rules. The SEC has opened the proposal for public comment, reflecting a cautious stance amid a high volume of crypto ETF submissions [1].

Market sentiment around the Cardano ETF has shifted, with approval odds rising to 87% according to Polymarket data. This rebound is attributed to Grayscale’s renewed push for approval and the firm’s recent amended S-1 filing [1].

Grayscale’s efforts build on previous filings and align with growing institutional interest in cryptocurrencies. The potential approval of these ETFs could enhance liquidity and attract new institutional and retail capital into the market.

References:
[1] https://cryptonewsland.com/grayscale-seeks-sec-approval-for-polkadot-and-cardano-etfs-with-new-s-1-filings/