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21Shares has launched the first U.S. spot DOT ETF just a week after it launched one of the first spot ETFs for SUI. <\/p>\n
21Shares has launched the first U.S. spot Polkadot ETF, known as TDOT, today, March 6, according to a press release<\/a> from the firm. <\/p>\n The crypto exchange-traded product issuer noted that its spot ETF for Polkadot\u2019s native asset, DOT, is registered under the Securities Act of 1933, not the Investment Company Act of 1940 \u2014 like most U.S. crypto ETPs<\/a>.<\/p>\n Bloomberg\u2019s senior ETF analysts, Eric Balchunas, posted<\/a> about the launch on X today, noting its 0.30% fee and that \u201cit looks like it was seeded with $11m.\u201d<\/p>\n Polkadot is known as a Layer 0 chain, as it consists of an ecosystem of networks with a shared base layer. With a market cap of approximately $2.4 billion, Polkadot is currently the 38th largest network, according to CoinGecko.<\/p>\n DOT is down<\/a> about 2% over the past 24 hours, despite the ETF news, as the broader market sees a downturn on increased economic and geopolitical uncertainty. <\/p>\n The token saw a sharp rally<\/a> last month on expectations around its upcoming halving event, as The Defiant reported. <\/p>\n TDOT marks the latest altcoin ETF to launch in the U.S. \u2014 a trend that accelerated notably last year. Just last week, 21Shares also issued one of the first spot ETFs for Sui (SUI), as The Defiant reported<\/a>. <\/p>\nDOT Slumps on the News<\/h2>\n