The US Securities and Exchange Commission (SEC) has extended its review period for the Grayscale Polkadot ETF application, with a new deadline set for June 11, 2025. The SEC will determine whether to approve or disapprove Nasdaq’s proposed rule change, allowing the listing and trading of the Polkadot-based investment product. The extension comes at the end of the initial review period, providing the commission with more time to evaluate the proposal thoroughly.
The Grayscale Polkadot Trust (DOT) filing was submitted by Nasdaq on February 24, 2025, under Rule 5711(d), Commodity-Based Trust Shares. The regulatory body has not yet received any comments on the rule change since its release, indicating that it is proceeding cautiously with the Polkadot ETF application, as it has done with previous cryptocurrency ETF applications. If approved, the Grayscale Polkadot ETF would join the list of crypto-based ETFs available in the market.
Despite the setback with the Polkadot ETF, the native cryptocurrency’s price has shown bullish momentum. Polkadot’s price has risen by 2.4% in the past 24 hours and 15.1% in the past week. Analysts remain optimistic about the future of DOT, with some predicting price targets as high as $42 in the coming months. Market observers have cited reasons for DOT’s positive outlook, including pending Polkadot ETF applications, staking activities tying up a significant portion of DOT tokens, and various ecosystem developments such as JAM testnet launch, Harbour’s ecosystem fund, and GIGADOT’s DeFi products.
CoinGape has released its DOT price prediction for April 2025, supporting the bullish sentiment surrounding Polkadot’s future price movements. Crypto analyst Patel also shared an update on DOT’s technical performance, reaffirming a previous price prediction and suggesting potential price targets of $10, $20, and $42 based on current momentum. With the Polkadot ETF news generating speculation, there is also discussion on whether the XRP ETF going live could potentially push Ripple’s price up by 600%. Additionally, ongoing developments in the Polkadot ecosystem, such as Peaq and Mythical’s initiatives, further contribute to a positive outlook for the project’s growth and adoption.
