The US Securities and Exchange Commission (SEC) has prolonged its evaluation interval for the Grayscale Polkadot ETF utility, in accordance with a discover printed on April 24, 2025.
The fee has designated June 11, 2025, as the brand new deadline for its resolution. Within that deadline, the SEC will resolve whether or not to approve or disapprove Nasdaq’s proposed rule change. The resolution would permit itemizing and buying and selling of the Polkadot-based funding product.
SEC postpones resolution on Polkadot ETF
According to a notice by the SEC, this 45-day extension comes on the finish of the preliminary evaluation interval that was set to run out on April 27.
The SEC’s extension discover, signed by Assistant Secretary Sherry R. Haywood, exhibits that the fee wants further time to judge Nasdaq’s proposal. According to the doc, the regulatory physique “finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.”
The Grayscale Polkadot Trust (DOT) submitting was made by Nasdaq on February 24, 2025, beneath Rule 5711(d), Commodity-Based Trust Shares. The rule change proposal was subsequently printed within the Federal Register on March 13.
SEC is continuing slowly with Polkadot ETF because it did with previous functions for cryptocurrency ETFs. The fee is used to making use of its full evaluation powers beneath Section 19(b)(2) of the Securities Exchange Act of 1934. The discover reported that the Commission has not but acquired any feedback on the rule change since its launch. If accredited, the Grayscale Polkadot ETF can be added to the roster of crypto-based ETFs.
DOT worth predicted to hit $10
Despite the Polkadot ETF setback, its native cryptocurrency has continued with the bullish worth motion. Polkadot worth has risen by 2.4% previously 24 hours and 15.1% previously week. The development is supported by the truth that a number of analysts stay bullish about the way forward for DOT, with some having worth targets of as excessive as $42 within the coming months.
CoinGape has launched its DOT price prediction for April 2025. In addition, crypto analyst Patel shared an replace highlighting DOT’s technical efficiency. He famous that the token is “reacting exactly as expected from the entry zone.” The analyst reaffirmed a earlier worth prediction and said that the subsequent upward motion may goal $10, then $20. He additionally talked about that it may probably hit $42 if the present momentum continues.
$DOT Update – From Vision to Validation!
Remember this chart? ✅
We referred to as the breakout + Support bounce early. Now #Polkadot is reacting precisely as anticipated from the entry zone.Entry Filled: $3.50 ✅
Price holding robust — subsequent leg may goal $10 → $20 → $42 if momentum… https://t.co/XGJBJ8FRZT pic.twitter.com/h4Kp1ntTmu
— Crypto Patel (@CryptoPatel) April 23, 2025
Market observer Benjamin tweeted out a number of the most necessary causes behind DOT’s favorable prognosis. This contains the pending Polkadot ETF functions, staking actions which have tied up roughly half of all DOT tokens, and numerous developments within the ecosystem.
These embrace the upcoming launch of the JAM testnet, Harbour’s $100 million ecosystem fund, and HashKey Capital’s funding within the venture. The analyst additional highlighted rising applied sciences similar to GIGADOT’s multi-yield DeFi merchandise. He additionally spoke about Peaq at 4 million decentralized bodily infrastructure community IDs, and gaming platform Mythical onboarding 7M customers.
Amidst the DOT ETF information, there was hypothesis on whether or not the XRP ETF going stay can push Ripple price up by 600%.
Vignesh Karunanidhi
Vignesh Karunanidhi is a seasoned crypto journalist with practically 7 years of expertise within the cryptocurrency trade. He has contributed to quite a few publications, together with WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles
Disclaimer: The introduced content material might embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.
