The price of Polkadot (DOT) has regained the collapse of the last encryption market after Nasdak submitted a request with the US Securities and Exchange Committee (SEC) for the stock grades in Polkadot ETF for the gearskale.
This step follows similar files for other mechanisms, including XRP and Cardano. The analyst is now speculative of DOT potential price, as some expect a rise to $ 34 if Polkadot ETF is approved.
NASDAQ seeks to obtain SEC approval on Grayscale Polkadot Etf
According to another presentationNASDAQ introduced the 19B-4 model to SEC to insert and trade stocks into Grayscale Polkadot Trust (DOT). This deposit represents the last step in expanding the scope of investment -based investment products on the traditional stock exchanges.
GrayScale Investments, the company behind ETF, aims to provide exposure to investors to the original symbol of Polkadot. The United States of America now has a 45 -day review period to acknowledge the deposit, after which it can agree to the review process, reject it or extend it.
The Grayscale file follows a similar request from 21shares, which has made a request for the Polkadot ETF spot late last month. After the Polkadot ETF file, the DOT price has seen a short 4 % increase before a decrease of 6 % in the past 24 hours, trading at $ 4.4.
Polkadot Etf Part of the broader encryption strategy for Grayscale
Grayscale increases their ETF shows with the development of organizational feelings towards encrypted currencies. Along with Polkadot ETF, the company recently applied to convert XRP confidence to ETF and submit it to the immediate Cardano ETF, which was recognized. Other potential products associated with digital assets such as Solana (SOL), Dogoin (DOGE) and Litecoin (LTC) are considered.
These deposits come at a time when the American SEC adopted, under the Trump administration, a more open position towards digital assets under the leadership of the SEC president in the United States, Mark Uida. The organizer recently dropped many encryption investigations, including cases against Robinhood, Coinbase and NFT Marketplace Opensea. Consequently, market analysts believe that this shift can improve the opportunities to agree to the investment funds circulating in many funds.
The Polkadot ETF file is part of a wider direction to increase institutional interest in investing in encrypted currency. Recently, Tuttle Capital Management ETF 2x Polkadot, but later withdrew its files for all investment funds circulating in Crypto.
James Sevart, ETF analyst in Bloomberg, commented on the increasing number of ETF encryption applications, saying,
“Altcoin Atfs is coming.” More deposits for XRP and Litecoin ETFS are expected in the coming days.
Does Polkadot Price gather to $ 34?
Despite the recent decline, market analysts believe that the price of Dot may see a large aspect if the main resistance levels are broken.
The first main resistance level is $ 6, which must be disinfected in order to develop a strong escalating momentum. If Dot collapses this level, strength and movement may gain towards the next important resistance point at $ 11.
This level has already been tested twice but he refused, making it a decisive threshold for more price procedures. A successful penetration of more than $ 11 will indicate a strong trend, which is likely to be about 34 dollars with the minimum resistance.
According to the analyst, if the price of Polkadot suffers from a slow and fixed decrease, it may continue to search for a strong bottom before a possible recovery. However, in the event of a sharp and rapid decrease, a V -shaped recovery can occur, which leads to a strong bounce on an equal footing with the price of the point.
Kelvin Monin Murithi
Kelvin is a distinguished writer who has experience in encryption and financing, holding a Bachelor’s degree in Actura Sciences. It is famous for its careful analysis and insightful content.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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