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The United States Securities and Exchange Commission (SEC) announced an extension of the review period for Grayscale’s Polkadot ETF application. The new decision deadline has been set for June 11, 2025. In this context, the SEC will evaluate whether to approve the proposed rule change from Nasdaq, aimed at paving the way for the listing and trading of Polkadot-based investment products.
SEC Decision and Review Process
It was noted that the Commission granted an additional 45 days following the initial review period, which ended on April 27. In the statement released by the SEC, the reason for extending the review period was articulated as the need for a detailed assessment of the relevant rule change and the issues raised.
Sherry R. Haywood, SEC Official: “The proposed rule change and the topics raised require additional time for thorough examination.”
DOT Coin
Despite the delays in the decision-making process for the Polkadot-based ETF, an increase in market performance has been observed for the project’s native token, DOT. In the last 24 hours, DOT saw a rise of 2.4%, with a weekly increase of 15.1%. Analysts maintain positive expectations for DOT, with some suggesting the future price target could exceed 10 dollars.
Cryptocurrency market analyst Crypto Patel commented that DOT’s chart is behaving as expected. Patel reiterated previous predictions, indicating that if the current momentum continues, the price could reach 10, 20, or even 42 dollars.
In addition to the Polkadot ETF application, various projects and test networks are reportedly being developed in the market. For example, the JAM testnet is set to launch soon, while Harbour’s 100 million dollar ecosystem fund and HashKey Capital’s investment in the project have also drawn attention. These developments are closely monitored by market participants.
Furthermore, the positive expectations in the DOT market are said to be significantly influenced by staking activities. Other analysts observing the market suggested that various technological advancements could contribute to DOT’s future. It is anticipated that new projects and technological innovations will reflect positively on the sector.
