Grayscale Proposes Exchange-Traded Funds for Polkadot and Cardano Following Approval Under Rule 19b-4

In a significant move for the crypto market, Grayscale has filed registration statements with the U.S. Securities and Exchange Commission (SEC) for exchange-traded funds (ETFs) tied to Polkadot (DOT) and Cardano (ADA). These filings, which follow Grayscale's earlier 19b-4 submissions in February 2025, are positioning the products for regulatory review.

If approved, the Grayscale Cardano and Polkadot ETFs will offer investors direct exposure to these altcoins. The Polkadot Trust ETF will hold Polkadot in custody with Coinbase and trade on Nasdaq under the ticker DOT. It will track the CoinDesk DOT CCIXber Reference Rate. Similarly, the Cardano ETF will hold ADA in custody with Coinbase, list on NYSE Arca under the ticker GADA, and follow the CoinDesk Cardano Price Index. Both ETFs will not use leverage or derivatives.

The proposed ETFs are part of a broader trend among issuers such as VanEck and Bitwise, who are moving forward with altcoin ETFs, aiming to expand beyond Bitcoin and Ethereum. This development could potentially open up the crypto market to a wider range of investors seeking exposure to various altcoins.

The Cardano ETF is set to list on NYSE Arca, while the Polkadot ETF will trade on Nasdaq. The Cardano ETF will track the CoinDesk Cardano Price Index, and the Polkadot Trust ETF will track the CoinDesk DOT CCIXber Reference Rate.

The registration of these ETFs marks a significant milestone for both Polkadot and Cardano, as they join the ranks of Bitcoin and Ethereum in the ETF market. This move could potentially increase the liquidity and accessibility of these altcoins, making them more attractive to institutional investors.

As the regulatory landscape for cryptocurrencies continues to evolve, the approval of these ETFs could signal a growing acceptance of altcoins by traditional financial institutions. The launch of these ETFs could also encourage further innovation and investment in the altcoin market.

In conclusion, the filing of the Grayscale Cardano and Polkadot ETFs with the SEC is a significant step forward for the crypto market. If approved, these ETFs could offer investors direct exposure to these altcoins and potentially increase their liquidity and accessibility. As the regulatory landscape for cryptocurrencies continues to evolve, we can expect to see more developments in the altcoin ETF space.

Grayscale Proposes Exchange-Traded Funds for Polkadot and Cardano Following Approval Under Rule 19b-4