The United States Securities and Exchange Commission (SEC) has announced an extension to the review period for Grayscale’s application to launch a Polkadot ETF, now set to conclude by June 11, 2025. This decision allows the SEC to assess a proposed rule change from Nasdaq that is designed to facilitate the listing and trading of investment products linked to Polkadot.
What Prompted the SEC’s Review Extension?
Following the initial review period, which wrapped up on April 27, the SEC has granted an additional 45 days. The agency emphasized the importance of conducting a thorough examination of the proposed rule change and the various issues that have emerged during the initial review process.
Sherry R. Haywood, SEC Official: “The proposed rule change and the topics raised require additional time for thorough examination.”
Why Is DOT Coin Performing Well?
Amidst the delays regarding the Polkadot ETF decision, the project’s native cryptocurrency, DOT, has shown a positive market performance. In the last day alone, DOT increased by 2.4%, with a notable weekly rise of 15.1%. Some analysts express optimism about DOT’s potential, predicting a future price that could surpass $10.
Market commentators, including Crypto Patel, have noted that DOT’s chart is displaying expected behavior, suggesting that if the upward momentum continues, prices could reach $10, $20, or even as high as $42.
In addition to the ETF application, various projects are in the works, including the upcoming launch of the JAM testnet. Significant investments, such as a $100 million ecosystem fund by Harbour and backing from HashKey Capital, are drawing interest from the market. These developments are being closely tracked by investors.
The encouraging outlook for DOT is reportedly bolstered by staking activities. Analysts are also considering how upcoming technological advancements might impact DOT’s trajectory, anticipating that new projects and innovations will benefit the sector overall.
- SEC extends Grayscale Polkadot ETF review until June 2025.
- DOT cryptocurrency sees a significant price increase amidst ETF delays.
- Market analysts predict positive price movements for DOT based on current trends.
- Continued development of projects and technological innovations expected to benefit Polkadot.
As the situation evolves, the market remains attentive to both the SEC’s decisions and the performance of DOT as it navigates through these critical developments.
