2024-12-20 04:00 |
21shares registered a trust in Delaware on Dec. 19, called the 21Shares Polkadot Trust, for a potential exchange-traded product indexed to Polkadot (DOT).
As of press time, 21shares has not spoken publicly about the filing.
DOT is the 20th largest crypto, priced at $7.07 and boasting a market cap of nearly $10.8 billion as of press time.
This is 21Shares’ latest effort in the crypto-related exchange-traded products (ETP) sector. In addition to its Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded funds (ETF) in the US, the firm filed for spot Solana (SOL) and XRP ETFs and an Injective (INJ) ETP this year.
‘New wave’ of crypto ETFsBloomberg ETF analysts Eric Balchunas and James Seyffart already expected a new wave of crypto ETP filings, although only next year.
According to their predictions, BTC-ETH mixed index would be the first new ETPs approved, while Litecoin (LTC) and Hedera Hashgraph (HBAR) would come later.
Solana and XRP ETFs, on the other hand, have uncertain outcomes as their regulatory status is unclear.
The new filings, including a Hedera (HBAR) ETF filed by Canary Capital on Nov. 12, result from President-elect Donald Trump’s win in the US. His notorious pro-crypto stance is making ETF issuers optimistic about the regulatory landscape, prompting the creation of more products.
Moreover, Paul Atkins’ nomination as the new US Securities and Exchange Commission (SEC) added to the crypto industry’s bullishness. Atkins is a known advocate for innovation and has been the co-chairman of the Digital Chamber’s Token Alliance since 2017.
The post 21shares registers Polkadot trust in Delaware in preparation for ETF appeared first on CryptoSlate.
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