Nasdaq Seeks Approval From SEC To List DOT Shares

Nasdaq has asked the SEC for more clarity on Grayscale Polkadot Trust shares and for the latter to list them so investors can more easily track and understand their price. The Nasdaq stock market just filed a proposal asking the SEC to list and trade the Trust’s shares. This proposal is based on Nasdaq’s commodity-based trust shares rule.  

The trust’s main goal is to promote Polkadot, the native coin of the Polkadot network. The filing clearly stated that Coinbase Custody Trust Company would be a custodian and BNY Mellon Asset Servicing would be an administrator. The shares will be trading under the ticker DOT.  

Screenshot of the Nasdaq filling (page 3). | Source: Sec.gov

The Fund 

The Polkadot fund was launched in January 2021 and only holds DOT tokens. Each share represents the amount of DOT the fund holds. The best part of the fund is that traders can trade shares directly instead of having the tokens. As per the latest filing, Grayscale Investments Sponsors will solely manage the fund.  

Polkadot’s DEX platform uses DOT for things like staking, governance, and connecting parachains via its relay chains. DOT is currently priced at $4.37 with a slight downtrend. The token has fallen by 6.11% in the last seven days and 31.2% in the previous 30 days.   

If the SEC approves trading and listing Grayscale Polkadot Trust on Nasdaq, it could open doors for the token. It would allow people to invest in the token more easily and clearly.