GrayScale is seeking to enhance its group of investment funds in the field of digital currencies by focusing on Polkadot, despite the doubts surrounding the market.
Grayscale Digital Asset Management Company has submitted an application to the US Securities and Exchange Commission SEC to launch the ETF indicators for Polkadot on the Nasdaq Stock Exchange.
According to a file provided by the company today to the authority, the new fund aims to provide investment opportunities in the Bolkadot Dot by tracking the currency price performance.
The file includes a proposal to include and trading the GrayScale Polkadot Trust (DOT) according to the NASDAC securities bases associated with commodities.
The Fund sponsors GrayScale Operating LLC and GrayScale Investments Sponsors LLC, who are from the company of the Digital Currency Group, Inc.
As a recommended, the proposal is appointed by CSC Deaware Trust Company, Coinbase Custody Trust Company, LLC as a secretary.
BNY Mellon Asset Servicing will take over management and transfer tasks, while Foreside Fund Services, LLC will take advantage of distribution and marketing tasks, and will be Coindesk Indices, Inc, an indicator of the fund.
Despite this increasing interest in digital currency trading boxes, some market analysts still question the success of a fund that focuses on Polkadot.
Despite all of this, analyst James Sevart indicated from a pessimistic point of view that this demand faces great criticism, noting that the market determines the value of those products, and said, “The market will determine where the value lies, if no one puts money in the Polkadot ETF box, it will be closed “.
