"SEC Delays Grayscale's Spot ETF Until 2024, 21Shares Pioneers Polkadot ETF"

Grayscale’s Spot ETF Approval Delayed by SEC Until December 2024

The U.S. Securities and Exchange Commission (SEC) has extended its review period for Grayscale’s Digital Large Cap Fund’s proposed transition to a spot ETF, pushing the deadline to December 17, 2024. This decision reflects ongoing regulatory scrutiny within the cryptocurrency sector, particularly concerning the conversion of traditional funds into exchange-traded funds (ETFs). The SEC’s move is expected to affect market dynamics and investor sentiment, emphasizing the importance of compliance and regulatory clarity in the evolving crypto landscape.

21Shares Seeks SEC Approval for Pioneering Polkadot Spot ETF, Targeting DOT Investors

On February 1st, renowned digital asset firm 21Shares took a significant step by submitting a proposal to the U.S. Securities and Exchange Commission (SEC) for the establishment of a Polkadot spot Exchange-Traded Fund (ETF). This initiative marks a pioneering move in the cryptocurrency space, as the proposed fund aims to operate under the 21Shares Polkadot Trust, making it the first of its kind devoted exclusively to Polkadot’s native token, DOT. The ETF is anticipated to debut on the Cboe BZX Exchange and will meticulously track the price movements of DOT. Importantly, the assets associated with this ETF will be securely managed by Coinbase Custody Company, LLC. In a related development, Tuttle Capital has also sought approval for the launch of 10 leveraged cryptocurrency ETFs, notably one focusing on Polkadot, further demonstrating growing institutional interest in the crypto market.

21Shares Submits Spot Polkadot ETF Filing to the SEC

BlockBeats News, February 1st, 21Shares has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch a Polkadot spot ETF for approval. The company filed a registration statement with the SEC on Friday to establish the 21Shares Polkadot Trust, which will be the first fund of its kind. The ETF is planned to be listed on the Cboe BZX Exchange and will track the performance of the native token DOT of the Polkadot