On the last day of January, asset management company 21Shares filed with the US Securities and Exchange Commission (SEC) to launch an exchange-traded fund based on Polkadot (DOT).
This is not the first DOT-tracking fund to seek approval from the U.S. regulator. Tuttle Capital also filed for 10 leveraged crypto ETFs this week, including one based on Polkadot .
According to the filing, 21Shares plans to register Polkadot - ETF on the Cboe BZX exchange. The fund will also be a passive investment, which only involves tracking the price of the altcoin, rather than speculatively trading the asset. This means that the company will not buy DOT at a low price and then sell it at a higher price.
21Shares noted that it will partner with Coinbase Custody Trust Company, which is tasked with storing assets for ETF if approved.
It is interesting that the price Polkadot did not react to the news of the potential launch ETF . DOT, 18th largest by market cap kriptovalyuta , hasn't exactly been a happy place for its holders lately. According to CoinMarketCap, the altcoin's price has fallen 5,16% over the past 12 months and 10,48% in January.
However, this week Polkadot has started to recover a little. Over the past seven days, it has grown by 0,74%, and by 0,4% in a day. On the evening of February 1, token traded at $6,35.
