Grayscale Expands ETF Altcoin Portfolio with Polkadot and Cardano Filings 📈

Grayscale, a leading digital asset management company, has filed S-1 applications with the U.S. Securities and Exchange Commission (SEC) to launch spot ETFs for Polkadot (DOT) and Cardano (ADA). This move marks a significant step in Grayscale's strategy to expand its product offerings beyond Bitcoin and Ethereum, aiming to attract institutional capital and provide a legitimate access channel to altcoins for investors.

Grayscale proposes to establish spot ETFs for Polkadot (DOT) and Cardano (ADA).

The Polkadot ETF is expected to be listed on the Nasdaq, while the Cardano ETF will trade on NYSE Arca.

These funds will be passive products, holding the underlying assets directly under the custody of Coinbase, without using leverage or derivative instruments.

The prices of the ETFs will be monitored based on the corresponding price indexes of CoinDesk.

The funds may include staking mechanisms, depending on regulatory conditions.

In parallel with the filing for the new ETFs, Grayscale is also working to convert existing Trust funds into spot ETFs. Specifically, Grayscale has filed S-1 to convert the Avalanche Trust into a spot ETF for AVAX and the Dogecoin Trust into a spot ETF for DOGE. The company has also expressed similar plans for Solana (SOL), Litecoin (LTC), and a multi-cryptocurrency fund.

Grayscale's continued expansion of ETF products demonstrates strong confidence in the future of digital assets and a desire to provide diverse investment tools for the market.