The Crypto ETF specialist, 21Shares, made a request to the dry to launch an ETF Polkadot in cash. If it is approved, this request will mark the launch of the first ETF Polkadot in the United States.
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21Shares made a historic request to the SEC to launch the first ETF Polkadot in cash in the United States. Polkadot, despite his promise, recently showed disturbing volatility with downward price performance.
21Shares file a request for ETF Polkadot
On January 31, the 21Shares teams filed a request to the SEC to launch an ETF Polkadot in cash. According to the document deposited with the SEC, the ETF would be listed on the CBOE BZX Exchange, with Coinbase as a depositary for the DOS. This request comes in a context where many financial players seek to launch ETF Crypto, taking advantage of the regulatory relaxation following the resignation of Gary Gensler from the presidency of the SEC.
Polkadot: a promising but volatile cryptocurrency
Polkadot, although classified as the 18th largest cryptocurrency by market capitalization, has experienced recently mixed performances. Its price fell 5.16% over the last 12 months and 10.48% over the last month, according to CoinmarketCap. The request of 21Shares warns against the volatility inherent in Polkadot, stressing that there is «no assurance that the dowry will maintain its long -term value». In the event of a drop in the price of the dowry, the value of the ETF shares should also decrease. For its part, Polkadot continues to develop. Thus, the network recently announced the addition of EVM support, the Ethereum execution environment.