- \n
- 21Shares made an S-1 filing with the U.S SEC for a Polkadot ETF<\/span><\/em><\/li>\n
- Crypto community shared their mixed reactions when news of the application broke out<\/span><\/em><\/li>\n<\/ul>\n
It looks like the altcoin ETF craze isn\u2019t slowing down in 2025. As the market awaits the SEC\u2019s decision on <\/span>Solana<\/span><\/a>, Litecoin, XRP, and Dogecoin applications, Polkadot<\/a> has joined the list now.\u00a0<\/span><\/p>\n
On 31 January, digital asset manager 21Shares filed an <\/span>S-1 form<\/span><\/a> (registration statement) with the regulator for its proposed Polkadot ETF. This marked the first application for the altcoin in the United States.\u00a0<\/span><\/p>\n
![\"Polkadot\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Polkadot-ETF-FI.png\")
<\/a><\/p>\nSource: SEC<\/p>\n<\/div>\n
Mixed reactions to Polkadot ETF<\/h2>\n
Oddly though, the submission received more scolding than praise from the crypto community. In fact, some users jokingly <\/span>stated<\/span><\/a> that it was \u201cworse than XRP ETF.\u201d<\/span><\/p>\n
Reacting to the overwhelmingly negative response to the application by a section of the X crypto community, Bloomberg ETF analyst James Seyffart <\/span>stated<\/span><\/a>,\u00a0<\/span><\/p>\n
\n
\u201cThis is up there with the most hate I\u2019ve ever seen an ETF filing get on this website. People really don\u2019t like Polkadot\u2026 The market will decide where value lies and if there\u2019s value in launching such a product. If no one puts money into a Polkadot ETF \u2014 it will close.\u201d<\/span><\/p>\n<\/blockquote>\n
On the on-chain side, DOT saw a blip in social volume and a spike in positive sentiment after the filing. However, at the time of writing on 01 February, the sentiment had soured. <\/span>This could be linked to the negative community response or the sharp retracement of Bitcoin over the weekend.\u00a0<\/span><\/p>\n
![\"Polkadot\"](\"image\/svg+xml,%3Csvg%20xmlns=\")
![\"Polkadot\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Polkadot-DOT-09.26.02-01-Feb-2025.png\")
<\/a><\/p>\nSource: Santiment<\/p>\n<\/div>\n
That being said, the filing was marked by massive leveraged trading and not strong spot market demand that could drive a sustainable rally on the charts.\u00a0<\/span><\/p>\n
This was illustrated by the jump in OI (Open Interest), alongside the corresponding flat CVD Spot (muted spot market demand).\u00a0<\/span><\/p>\n
- Crypto community shared their mixed reactions when news of the application broke out<\/span><\/em><\/li>\n<\/ul>\n
![\"Polkadot](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Polkadot-ETF.png\")
![\"Polkadot\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/DOTUSDT_2025-02-01_08-46-54.png\")