SEC Issues Update on Anticipated Altcoin Spot ETF – Here’s What You Need to Know

The U.S. Securities and Exchange Commission (SEC) has delayed digital asset management firm 21Shares' application for a spot Polkadot ETF. The SEC’s deadline for a decision on the Polkadot Spot ETF is Nov. 8, and Bloomberg analysts see a 90% chance of approval. In addition, analysts say the current delays are normal. The company's goal is to track the performance of Polkadot's native token, DOT, through a passive investment vehicle and offer the cryptocurrency directly to investors by holding it in custody. According to regulatory filings, the fund will use the CME CF Polkadot-to-Dollar Reference Rate as its benchmark, which is calculated based on trading flow from major DOT trading platforms. Related News: BREAKING: And Donald Trump Made the Historic Announcement: A Ceasefire Will Be Implemented Between Iran and Israel - Bitcoin Price Reacts Sharply 21Shares already offers exposure to Polkadot through its products traded on European exchanges and has a significant presence in the digital asset space. Polkadot was developed by Ethereum co-founder Gavin Wood with the aim of enabling different blockchain networks to connect and communicate with each other. *This is not investment advice. Continue Reading: SEC Issues Update on Anticipated Altcoin Spot ETF – Here’s What You Need to Know