The US Securities and Exchange Commission (SEC) delayed approval of the Polka Dot ETF by 21 shares. The delay further lowered the market price of DOT.
The US SEC has announced another delay in the launch of the Polkadot ETF at 21 shares. This is the last delay since April 25th, when ETF reviews were expanded again. The proposed fund was submitted at the end of March and is relatively early in the approval process.
The decision arrived when the SEC delayed another proposed Solana (SOL) ETF. Additional statements are expected for the proposed DOGE and XRP funds.
The last proposal to trade stocks in Polka Dot ETF update It is currently open on May 8th to submit comments.
The new date for the Polkadot ETF statement is June 11th, and June 24th, according to Grayscale’s proposal. The fund has one of the lower probability of approval compared to other coins. 75% It may be released by the end of 2025.
Currently, 21Shares offers ETP through brokerages, with over $27 million in managed assets under management. Posted by ETP 37% Annual losses despite expectations for increased demand for DOT. Polka dots are also part of the greyscale Smart Contract Fundaccounts for approximately 2.63% of the assets under management.
21 shares already offer three major ETFs linked to BTC and ETH with passive or active strategies. The proposed polka dot products are based on the project’s spot price.
Dot token slides for polka dots after ETF delay
The DOT has maintained its overall negative direction, exceeding $4.80, over $5 from the recent level. Tokens have recorded more than $263 million in daily trading volumes, close to the higher range, over the past three months.
Polkadot has strived to acquire ETFs not only as a source of investment but also as evidence of the impact of the chains between top crypto platforms. Polkadot has one of Crypto’s most active marketing campaigns, with a substantial budget for social media and real-life ads.
Polka dots are one of the niche ETFs. Because most industries focus on the launch of Solana or XRP. The success of this product shows a deeper commitment to the crypto ecosystem, drawing external funds into one of the unique crypto platforms.
The Polkadot ecosystem was created after an ICO that was able to raise more than $510 million. However, Polkadot lost most of the ETH in the smart contract incident while restructuring the Ministry of Finance. The project continues to allocate funds for aggressive advertising based on community votes.
Polkadot slowed the distribution of prize money after community votes. |Source: Dune Analytics
In the past few months, prize money allocations have declined as Polkadot aimed to maintain a more important Treasury ministry. Polka dots are maintained $88 million At that Ministry of Finance.
The advantage of Polkadot lies in its sub-chain ecosystem, which has its own unique fluidity and value. Some of the top polka dot chains are growing them now Locked valuesindicating that the network is reaching the end users.
