Grayscale Investments aims to extend its punctual cryptography offers with a bargain on the stock market (ETF) according to the price of PeaAccording to a file file with the Securities and Exchange Commission.
Nasdaq submitted a request for modification of the 19B-4 rules which would allow the Grayscale Polkadot Trust (DOT) to start negotiating on the stock market. The dry now has 45 days to recognize the file.
“The shares (of the trust) are designed to offer investors a profitable and practical means of obtaining exposure to investments in the dowry,” said the file.
The application follows Stamford’s request, Connecticut Crypto Asset Manager to convert your XRP Trust to an ETF and offer a fund based on Cardano performance. The new products would expand the Graycale offers of its current FNBs according to the driving price of Bitcoin and Ethereum, and would offer the latest evidence of the attempts of the issuers to meet the growing demand for crypto-in the frame.
Decipher contacted Grayscale for additional comments.
Last month, Crypto 21Shares Fund transmitter also applied For an ETF ETF Polkadot, the Polkadot blockchain token and the 26th largest digital asset with a market capitalization of $ 6.7 billion. Polkadot is a blockchain network that connects various channels focused on specific applications and ecosystems.
Polkadot was recently negotiated at $ 4.42, a drop of 6.5% in the last 24 hours, according to the Coingecko market provider. Its drop has concluded wider losses in cryptographic markets in recent days, with most major assets in the red during the last day.
Earlier this month, dry recognized And the published details of the NYSE Arca proposal aimed at incurring the actions of the XRP Trust Thursday, revealing an extensive framework designed to respond to regulatory concerns concerning trade.
Bitcoin funds cover
According to the director of active ingredients based in Bitcoin and Ethereum, the Bitcoin and Ethereum funds have had resounding success, the alumni of more than $ 40 billion at net entries. Blackrock Bitcoin Trust (IBIT) now has about $ 55 billion in management assets.
In an interview DecipherEric Balchunas, Tuesday’s main analyst Bloomberg, said that Polkadot’s deposit shows how transmitters see opportunities like the SEC has become “more indulgent and open to new products (crypto)”.
“This is what ETF issuers do, they push the envelope,” he said. “You will find all these attempts to take, a lot of spaghetti are launched on the wall.”
He added: “The valves were going to be open anyway” even with Gary Gensler at the head of the dry, but “now the valves are completely open.”
Balchunas has not yet established a rating on an approval from Polkadot, although he described them as “quite good”. He pencil a 70% probability that the regulator approves applications For Based on Solana Bitwise, Canary, 21Shares and Vaneck funds, as well as Grayscale.
“I would first like to see the fund recognized by the dry,” he said. The more we enter a normal process, the more the chances increase. »»
Edited by Andrew Hayward
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