Polkadot Eyes $34 as Nasdaq Files to List Grayscale DOT ETF
Polkadot (DOT) is back in the spotlight as Nasdaq officially files with the U.S. SEC to list and trade shares of the Grayscale Polkadot ETF. This move comes amid a surge in altcoin ETF applications, including XRP and Cardano.
With the SEC reviewing the filing over the next 45 days, analysts are now speculating whether DOT’s price could rally to $34 if key resistance levels are broken.
📢 Nasdaq Seeks SEC Approval for Polkadot ETF
According to a recent filing, Nasdaq has submitted Form 19b-4 to the SEC to list the Grayscale Polkadot Trust (DOT). This would allow investors to gain regulated exposure to Polkadot’s native token through a traditional investment product.
🔹 Grayscale continues expanding its crypto ETF offerings, with similar applications for XRP and Cardano ETFs.
🔹 The SEC has 45 days to review the application, with options to approve, deny, or extend the process.
🔹 This filing follows 21Shares’ recent Polkadot ETF application, reflecting increasing institutional interest in altcoins.
Despite the excitement, DOT price initially saw a 4% increase after the news before pulling back 6% in the last 24 hours, currently trading at $4.40.
📈 Will DOT Rally to $34?
Crypto analysts believe that DOT could see a major price breakout if key resistance levels are breached:
🔹 First major resistance: $6 – DOT must break and hold above this level to confirm bullish momentum.
🔹 Next key level: $11 – This resistance has been tested twice but rejected, making it a critical threshold.
🔹 Breakout target: $34 – If DOT clears $11, analysts suggest it could rally to $34 with minimal resistance.
Market sentiment is mixed, with some predicting a slow grind toward a bottom before a recovery, while others believe a V-shaped rebound could happen if the price sharply drops before bouncing back.
🚀 Growing Institutional Interest in Crypto ETFs
This Polkadot ETF filing is part of a larger trend of institutional adoption:
📌 Grayscale is expanding its crypto ETF lineup, including applications for XRP and Cardano.
📌 More altcoin ETFs (for Solana, Dogecoin, and Litecoin) could be filed soon.
📌 Under the Trump administration, the SEC is taking a friendlier stance toward digital assets, recently dropping investigations into Robinhood, Coinbase, and OpenSea.
Bloomberg ETF analyst James Seyffart commented on the growing momentum, saying:
“Altcoin ETFs are coming.”
⚠️ What’s Next for Polkadot?
The Polkadot ETF is still waiting for SEC approval, and DOT’s price remains below critical resistance levels.
📌 If the SEC approves the ETF, it could spark a massive rally for DOT and altcoins.
📌 If resistance at $6 and $11 is broken, a push to $34 could be on the horizon.
📌 If ETF applications face delays, DOT may continue its slow grind before a potential rebound.
With institutional interest surging, the coming weeks could be critical for Polkadot’s future.
What do you think? Will DOT hit $34, or is this just another ETF hype cycle? 🚀
