First spot Polkadot ETF launches in US issued by 21Shares
Quick Take
- 21shares, an issuer of crypto-based funds, launched its Polkadot ETF, ticker symbol TDOT, which trades on the Nasdaq.
- Bloomberg Senior ETF Analyst Eric Balchunas said the ETF was seeded with $11 million.
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Adding to the growing list of altcoin-based ETFs, 21Shares launched the first spot Polkadot fund in the U.S. on Friday.
The new fund, ticker symbol TDOT, is now trading on the Nasdaq.
Bloomberg Senior ETF Analyst Eric Balchunas posted online that 21Shares' new Polkadot ETF was seeded with $11 million and has a 0.3% fee.
Spot crypto ETFs allow investors to bet on the price of different cryptocurrencies without needing to hold the underlying digital asset.
"Polkadot is a next-generation blockchain platform designed to connect many independent blockchains into a single, interoperable network," according to a 21Shares statement. Developers can launch their own blockchains on top of Polkadot in order to take advantage of the network's security and scalability.
Polkadot’s native DOT token is trading at around $1.47, giving it a market capitalization of roughly $1.7 billion, according to The Block’s Price Page.
21Shares has also issued spot exchange-traded funds that track the price of Bitcoin and other altcoins like XRP, Sui, Solana and Dogecoin.
The firm's XRP fund is its most popular altcoin ETF with $174 million in assets under management, according to 21Shares.
Last month, 21Shares also launched a spot SUI exchange-traded fund. The ETF currently has $12.5 million in AUM.
After the success of spot bitcoin and ether ETFs, along with a more crypto-friendly regulatory stance under President Trump’s administration, asset managers are now rolling out funds tied to a range of altcoins.
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