SEC Extends 21Shares Polkadot ETF Decision to November 2025

The U.S. Securities and Exchange Commission (SEC) has extended its decision on the 21Shares Polkadot (DOT) Spot Exchange-Traded Fund (ETF) to November 8, 2025. This delay is part of the SEC's cautious approach toward cryptocurrency ETFs, as the agency continues to assess the potential risks associated with digital assets. The initial decision date was set for June 24, 2025, but the SEC has now extended the review period to allow for more time for public comments and evaluations.

The application seeks to bring direct exposure to Polkadot’s native token, DOT, to U.S. investors through a regulated investment vehicle. The proposed 21Shares Polkadot ETF aims to passively track the price of DOT using the CME CF Polkadot-Dollar Reference Rate. This benchmark aggregates pricing data from leading DOT trading venues to offer a reliable valuation standard.

If approved, the fund would provide investors with secure, regulated access to DOT through direct token custody, eliminating the need for self-managed wallets or trading on unregulated platforms. The ETF structure is designed to streamline exposure for both institutional and retail market participants.

The delay in the decision on the 21Shares Polkadot ETF follows a similar pattern seen with other cryptocurrency ETFs. The SEC has also extended its review of Grayscale’s Polkadot ETF application, which was due on June 11. Both the 21Shares and Grayscale Polkadot ETFs are now under further scrutiny, with decisions anticipated by November. In addition to Polkadot, other altcoins such as XRP, Litecoin (LTC), Solana (SOL), and Dogecoin (DOGE) have also experienced delays in ETF approval. The SEC's cautious approach is aimed at ensuring that these financial products meet the necessary regulatory standards and protect investors from potential risks.

Despite the delay, analysts remain optimistic about the approval of the Polkadot ETF. According to analysts, the odds of approval for many cryptocurrency ETFs, including Polkadot, are “90% or higher.” This optimism is based on the strong engagement from the SEC, which is seen as a positive sign for the future of these financial products. Analysts have noted that while the approval process for crypto ETFs may extend beyond October, the likelihood of approval remains high. The SEC's cautious yet engaged approach could lead to approval in the final quarter of 2025.

The SEC’s eventual decision will be closely watched as it may signal broader regulatory sentiment toward altcoin-based spot ETFs. The delay in the SEC's decision has not dampened the market sentiment for Polkadot. Despite the uncertainty surrounding the SEC’s decision, Polkadot’s price has surged by over 8% in the last 24 hours. This price increase follows a slight easing of geopolitical tensions in the Middle East, notably between Iran and Israel. The cooling of tensions in the region has led to a positive market sentiment, which may have contributed to Polkadot’s rally. Meanwhile, there is also speculation that memecoin ETFs, such as those linked to tokens like Dogecoin (DOGE), Shiba Inu (SHIB) could emerge in 2026. As the SEC evaluates these products, it will continue to weigh concerns related to market manipulation, volatility, and investor protection.