Nasdaq has taken a bold step toward bridging blockchain innovation and traditional finance, submitting a Form 19b-4 to the U.S. Securities and Exchange Commission (SEC) for 21Shares’ Polkadot ETF, according to market sources cited by Odaily. This filing paves the way for a potential spot ETF that would track Polkadot’s native token, DOT, offering U.S. investors a regulated gateway into one of crypto’s most promising ecosystems.

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The journey began earlier this year when 21Shares filed a Form S-1 with the SEC in January 2025, aiming to list the ETF on the Cboe BZX Exchange with Coinbase Custody safeguarding the DOT assets, as reported by Coinspeaker. Nasdaq’s recent 19b-4 filing—a critical exchange-level move—builds on that foundation, signaling growing momentum. Crypto News (March 7, 2025) noted that 21Shares updated its S-1 on March 6, refining its proposal as the SEC’s review looms.

Polkadot, brainchild of Ethereum co-founder Gavin Wood, stands out for its interoperability and scalability, making it a prime candidate for ETF adoption. This isn’t a solo race either—Cryptopolitan (February 25, 2025) highlighted Nasdaq’s parallel filing for Grayscale’s Polkadot ETF, set to trade as “DOT.” With the SEC’s 45-day review clock ticking once the 19b-4 is officially acknowledged (per ETF.com, February 25, 2025), Polkadot could soon join the ranks of crypto assets lighting up traditional markets.