Here’s a list of the many crypto ETFs that issuers have created and launched.
There are many more proposals than just those focusing on Litecoin, XRP or solana.
Update from yesterday. A Nasdaq 19b-4 indicates Grayscale Investments intention to offer a Polkadot-themed ETF. A similar proposal was made by 21Shares a few months ago.
Polkadot’s (DOT) market capitalization is nearly $7 billion. This places it at 26th place among all crypto assets.
Grayscale is not proposing to wrap one of their existing trusts in an ETF, as it did with bitcoin and ether. It’s not because the trust does invest in DOT.
Grayscale has a history of launching private placements with accredited investors, before getting public quotes on unrestricted stocks and becoming SEC-reporting. Conversion to an ETF will be the last step.
Grayscale did not follow the first steps when filing for an ETF based on Cardano. The SEC, in an announcement on Monday, acknowledged the existence of this product and said it will solicit feedback.
Grayscale must have felt that, even though it did not respond to any requests for comment, they could still take these short cuts given the ever-changing regulatory environment.
Nasdaq had filed a listing request for Canary Capital’s HBAR ETF last week, which held Hedera native cryptocurrency. The company filed a 19b-4 a few weeks after submitting an S-1 in November.
The trend around Altcoin ETF filings remains the same since our last check-in. It’s anyone’s speculation as to when the next filing will be.
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