Nasdaq has asked the Securities and Exchange Commission to list Grayscale Polkadot Trust shares, allowing investors to track polkadot prices more easily.
Nasdaq Stock Market filed a proposal with the Securities and Exchange Commission to list and trade shares of the Grayscale Polkadot Trust under the Nasdaq rule for commodity-based trust shares, according to a recent filing. The trust, sponsored by two subsidiaries of Digital Currency Group, aims to provide exposure to polkadot, the native token of the Polkadot network.
The filing, detailed in a Securities and Exchange Commission notice set 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 Polkadot fund
The fund launched in January 2021 and holds only polkadot. Each share reflects 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. According to crypto.news, Polkadot (DOT) is currently priced at $4.37 and has experienced a dip of -6.11% and -31.2% over the last 7 days and in the past month, respectively.
Increased adoption and liquidity
If the SEC approves, listing the Grayscale Polkadot Trust on Nasdaq would give traditional investors a regulated option to invest in Polkadot, potentially increasing its adoption and liquidity.
Read the full article here