“The SEC’s Dilemma: Will Polkadot Get the Green Light?”
And so, the great game of cat and mouse continues, my friends. The U.S. Securities and Exchange Commission, that great arbiter of the financial world, has officially acknowledged the filing for 21Shares’ Polkadot exchange-traded fund, marking a key step in the approval process. 🎉
But, alas, the decision is still pending, much like the fate of the human soul in the depths of existential despair. The SEC has confirmed 21Shares Polkadot (DOT) ETF filing by Nasdaq, dated March 20, which is just a fancy way of saying “we’re keeping an eye on you, Polkadot.” 👀
Nasdaq, that great bastion of hope and despair, has officially submitted the 19b-4 form to the SEC seeking approval to list a Polkadot ETF from 21Shares on March 17. Ah, the thrill of the chase, the agony of the wait! 🤯
What does the acknowledgment mean?
With this filing, 21Shares joins the ranks of the brave and the foolhardy, Grayscale, which submitted its own application to list a spot Polkadot ETF on Nasdaq with the SEC on Feb. 25. Bravo, Grayscale, bravo! 🎊
The acknowledgment by the SEC means that the regulatory body has kickstarted the formal evaluation period. During this time, the SEC will solicit public comments, assess the potential market impact, and determine whether the proposed Polkadot spot ETF complies with regulatory standards. Because, you know, the fate of the world rests on the shoulders of these bureaucrats. 🤣
While the acknowledgment of the filing is a positive development for Polkadot, it’s essential to remember that the SEC has been slow and cautious in approving crypto ETFs, especially ones beyond Ethereum (ETH) and Bitcoin (BTC). They’ve delayed decisions on other ETFs like Ripple (XRP), Solana (SOL), and Litecoin (LTC), making it uncertain whether the Polkadot ETF will be approved quickly. Ah, the thrill of the unknown, the agony of the wait! 🤯
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2025-03-21 16:40