NAIROBI (CoinChapter.com)—The Nasdaq exchange has filed a request with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Polkadot Trust. The move comes amid growing institutional interest in cryptocurrency ETFs, with Polkadot (DOT) now among the latest digital assets seeking spot ETF approval.
Polkadot ETF Filing Ignites Investor Hopes
The Nasdaq exchange has filed a request with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Polkadot Trust. The move comes amid growing institutional interest in cryptocurrency ETFs, with Polkadot (DOT) now among the latest digital assets seeking spot ETF approval.
Following the filing, DOT’s price experienced a brief 4% increase before slipping 6% in the last 24 hours, trading at $4.4. Analysts believe the ETF approval could serve as a catalyst for a major price rally. Bloomberg ETF analyst James Seyffart noted that “altcoin ETFs are coming,” reinforcing speculation that regulatory approval could open the floodgates for institutional investments.
Grayscale files for Polkadot ETF amid altcoin ETF wave. Source: James Seyffart/XGrayscale’s move aligns with broader ETF expansion efforts. The asset manager has previously filed for spot XRP and Cardano ETFs and is exploring similar products for Solana, Dogecoin, and Litecoin. Market observers are closely monitoring the SEC’s decision, given the regulator’s evolving stance under U.S. President Donald Trump’s administration, which has dropped multiple crypto-related investigations in recent months.
Analysts Eye a DOT Breakout Amid Bullish Pattern
Polkadot’s price action has caught the attention of traders, with analyst Ali (@ali_charts) highlighting a bull pennant pattern on the charts. The setup suggests a potential breakout, with a target as high as $17 if the pattern plays out successfully.
Source: XHowever, resistance levels remain critical. According to market analysts, DOT needs to break the $6 threshold before gaining momentum. A successful push past $11 could confirm an extended bullish trend, potentially paving the way for DOT to reach $34 in the long run.
Regulatory Shift Under Trump Fuels ETF Hopes
The SEC’s stance on crypto ETFs has noticeably softened since President Trump returned to office. Under former President Joe Biden, the agency aggressively pursued lawsuits against crypto firms, stalling progress on non-Bitcoin ETFs. Now, with Trump’s administration signaling a more open approach, the chances of approval for altcoin ETFs appear to be rising.
Grayscale’s push for a Polkadot ETF is part of a wider trend among asset managers looking to offer institutional-grade crypto investment products. 21Shares has also submitted an application for a spot Polkadot ETF, reflecting increased demand for regulated exposure to the asset.
Polkadot’s price trajectory hinges on multiple factors, including regulatory approval, investor sentiment, and overall market trends. While some analysts see a clear path to $34, others remain cautious, warning that rejection of the ETF filing could lead to further consolidation or even a pullback.
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