Nasdaq Proposes Polkadot Trust Listing, Boosting Crypto Accessibility

Nasdaq has submitted a proposal to the Securities and Exchange Commission (SEC) to list shares of the Grayscale Polkadot Trust, aiming to provide investors with a more accessible way to track Polkadot prices. The filing, detailed in a SEC notice slated for Federal Register publication, names Coinbase Custody Trust Company as custodian and BNY Mellon Asset Servicing as administrator. The shares will trade under the ticker DOT.

The Grayscale Polkadot Trust, sponsored by two subsidiaries of Digital Currency Group, launched in January 2021 and holds only Polkadot tokens. Each share represents the amount of Polkadot the fund holds, based on a price from CoinDesk Indices after deducting fees. Investors can trade shares in large batches, rather than holding the tokens directly. According to the filing, after May 3, 2025, only Grayscale Investments Sponsors will manage the fund.

Polkadot's decentralized platform uses DOT for governance, staking, and connecting parachains via its Relay Chain, a public ledger recording all transactions. As of recent data, Polkadot (DOT) is priced at $4.37, with a dip of -6.11% and -31.2% over the last 7 days and in the past month, respectively.

If the SEC approves the listing, it would provide traditional investors with a regulated option to invest in Polkadot, potentially increasing its adoption and liquidity. This move could also make it easier for investors to track Polkadot prices and facilitate trading in the cryptocurrency.