Forward Guidance Newsletter

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We’ve rounded up the myriad of crypto ETF plans issuers are dreaming up and launching.

The proposals continue to move beyond those focused on Solana, XRP, and Litecoin.

Recent Updates

An update from yesterday: A 19b-4 filing from Nasdaq signals Grayscale Investments’ intent to offer a Polkadot ETF. 21Shares put out a similar proposal a few weeks back.

Polkadot (DOT) has a market cap of nearly $7 billion, ranking it 26th among crypto assets.

The filing is not a proposal for Grayscale to convert one of its existing trusts to an ETF wrapper, like it had done with its Bitcoin and Ether products. That’s because it does not yet have a trust investing in DOT.

I previously wrote about how Grayscale historically first goes with private placement launches for accredited investors before obtaining public quotations for unrestricted shares and making the products SEC-reporting companies. The conversion to an ETF is the final step.

Grayscale skipped the initial steps upon filing for a Cardano ETF. Speaking of that product, the SEC acknowledged it in a Monday filing, noting the agency would solicit comments on the proposal.