Key takeout
- Grayscale has expanded its single asset trust lineup by submitting its S-1s to Polkadot and Cardano ETFs.
- The company already submitted its 19B-4 earlier this year, with Nasdaq taking on Cardano with Polkadot Trust and NYSE Arca.
Grayscale has expanded its single asset crypto products roster with the SEC for exchange industry funding related to Polkadot (DOT) and Cardano (ADA).
The proposed grayscale Polkadot Trust ETF is listed under the tickert under Nasdaq and tracks the reference rate of Coindesk Dot Ccixber. Cardano products trade on NYSE Arca under ticker’s GADA and follow the Coindesk Cardano Price Index. Both are configured as passive vehicles that have their underlying assets detained at Coinbase without leveraging or derivatives.
The filing follows previous filing of 19B-4 from February 2025 when Nasdaq applied for the Polkadot Trust list and NYSE Arca did the same for Cardano. Grayscale had already placed these products for regulatory reviews.
Bloomberg ETF analyst James Seyfert noted that these are not modern efforts, but rather continuation of already moving submissions.
“Greyscale will submit S-1s to both Cardano and Polka Dot ETFs. They had already submitted 19B-4s to each of these.
Since the beginning of this year, issuers such as Vaneck, Bitwise, 21shares, Coinshares, Franklin, and Canary have applied to multiple Altcoin ETFs as they are trying to provide exposure beyond Bitcoin and Ethereum. The most notable tokens in these applications are Solana, XRP, Cardano, Polkadot, Litecoin, and HBAR, with 21 shares adding SEI ETF filing yesterday.
