The U.S. Securities and Exchange Commission (SEC) is taking more time to decide if it will approve a new investment fund that includes Polkadot's token, DOT. This type of fund is called an ETF (exchange-traded fund).
In a filing on April 24, the SEC said it would delay its decision until June 11. That’s nearly four months after Nasdaq asked to list the Grayscale Polkadot Trust on February 24.
Grayscale’s request is just one of about 70 crypto-related ETF proposals still waiting for SEC approval. These include funds focused on other popular cryptocurrencies, memes, and even some unusual crypto assets, according to Bloomberg.
Bloomberg analyst Eric Balchunas joked that companies are trying to launch ETFs for “everything from XRP, Litecoin, and Solana to Penguins, Doge, and 2x Melania.”
Another company, 21Shares, is also hoping to launch its own Polkadot ETF.
Polkadot is a blockchain network that started in 2020. Its token, DOT, is currently worth about $4.33, with a total market value of around $6.6 billion as of April 24. $DOT
