The American Commission of Securities and Stock Exchange (SEC) has delayed the decision to approve the proposed stock fund (ETF) with the native Polkadot tokens, as regulated.
According to To the application on April 24, the regulator extended its date of the final judgment by June 11, almost four months after Nasdaq asked for permission to list Grayscale Polkadot Trust on February 24.
The application of ETF Grayscale adds to the list of about 70 proposed ETF in anticipation of SEC approval, including funds with altcoins, memeins and cryptocurrency financial derivatives, according to Bloomberg Intelligence.
Asset managers break the ETF for “[e]Given from XRP, Litecoin and Solana for penguins, Doge and 2x Melania and everything between “, analyst Bloomberg Eric Balchunas he said In the post on April 21, on the X. Asset Manager 21shares, he also expects permission to list its own ETF Polkadot.
Polkadot is a blockchain network of layer 1 launched in 2020. Its native token, Dot (Dot), has a market capitalization of around $ 6.6 billion as of April 24, According to to Coinmarketcap.
Related: The institutions break down from Ethereum, but keep ETH on the hook
Altcoin ETF pipeline
Grayskale is one of many asset managers who are looking for regulatory ground clearance to mention ETF Altcoin in the USA. The company is already behind several cryptographic funds, including ETFS Bitcoin Spot (BTC) and Ether (ETH).
The asset manager also asked for permission to launch ETF holding tokens such as Solana (SOL), Litecoin (LTC), XRP (XRP), Dogecoin (Doge) and Cardano (ADA).
The pipeline of the proposed funds of funds appears because over 80% of institutional investors claim that it plans to raise allocations to Crypto in 2025, in accordance with the March Coinbase and Ey-Parthenon report.
However, analysts warn that the demand for ETF Altcoin can be much more restricted than for funds containing basic cryptocurrencies, such as bitcoins and ether.
“ETF IDED coin is like being in a band and adding your songs to all streaming services of music,” said Balchunas.
“He doesn’t guarantee listening, but places your music where most listeners are.”
Warehouse: Altcoin season that hit Q2? Mantra Plan to gain trust: Hodler’s Digest, April 13-19
