The race for cryptocurrency ETFs is heating up, and Grayscale is back in the game.
If greenlit, a Polkadot ETF would allow investors to gain exposure to DOT without directly holding the asset.
Grayscale, a major player in the crypto investment space, first announced its Polkadot Trust back in 2021. This trust gave accredited investors a way to gain exposure to DOT through traditional financial markets. Now, with Nasdaq’s filing, Grayscale is looking to take things up a notch by converting the trust into a full-fledged ETF.
This move signals growing confidence in Polkadot and its role in the expanding crypto landscape. The blockchain network, known for its ability to connect multiple blockchains, is viewed as a key player in the future of Web3 technology.
Of course, getting SEC approval is no walk in the park. While Bitcoin spot ETFs finally got the green light in early 2024, altcoin ETFs still face an uphill battle. The SEC has been cautious about approving ETFs tied to cryptocurrencies beyond Bitcoin, citing concerns over market manipulation and investor protection.
As of December 31, 2024, the majority of Bitcoin is held by individuals, who control 14.56 million BTC (69.4%). Businesses own 914,000 BTC (4.4%), while funds and ETFs hold 1.29 million BTC (6.1%). Governments have accumulated 297,000 BTC (1.4%), and Satoshi Nakamoto’s wallet remains untouched at 968,000 BTC (4.6%).
Additionally, an estimated 1.57 million BTC (7.5%) is considered lost, while 1.2 million BTC (5.7%) is still waiting to be mined. With 218,000 BTC mined in 2024, the available supply continues to shrink, increasing Bitcoin’s scarcity and potential long-term value.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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🔥 NEW: Grayscale has filed for a Polkadot ETF with Nasdaq.
Who owns #Bitcoin? A breakdown as of Dec 31, 2024: 🔹 Individuals – 14.56M BTC (69.4%) 🔹 Businesses – 914K BTC (4.4%) 🔹 Funds & ETFs – 1.29M BTC (6.1%) 🔹 Governments – 297K BTC (1.4%) Other holdings: 🧵👇
