The firm filed S-1 registration statements with the U.S. Securities and Exchange Commission, aiming to list new single-asset ETFs tied to Polkadot (DOT) and Cardano (ADA).
Polkadot and Cardano ETFs in Focus
If approved, the DOT fund will trade on Nasdaq under ticker DOT, while the ADA product will debut on NYSE Arca as GADA. Both vehicles are designed as passive ETFs, holding crypto directly in Coinbase custody and tracking indexes created by CoinDesk Indices.
ETF analysts note these filings are a continuation of earlier 19b-4 submissions made earlier this year — part of a wider effort to bring regulated exposure to altcoins.
More Products in the Pipeline
Grayscale isn’t stopping there. The company has already filed to convert its Avalanche Trust into a spot AVAX ETF, and a Dogecoin Trust into a DOGE ETF. Additional proposals cover Solana (SOL), Litecoin (LTC), and even multi-asset crypto funds.
The expansion comes as demand for diversified exposure grows, with Bloomberg’s James Seyffart and ETF expert Nate Geraci both pointing out that the “floodgates are about to open.”
ETF Landscape Heats Up Ahead of October Deadlines
According to market data, 92 crypto ETPs are now waiting for regulatory decisions in the U.S., with most final deadlines hitting October 2025. Solana and XRP have emerged as the most anticipated, drawing the biggest attention from issuers.
Crypto ETFs Hold Their Own Against Traditional Markets
Despite volatility, ETFs tied to digital assets are competing with mainstream funds. In August, Ethereum products led with $3.9 billion in inflows, while Bitcoin funds shed $750 million. Year-to-date, IBIT (Bitcoin) is up 16% and ETHA (Ethereum) is up 30%, handily outpacing equity benchmarks like QQQ and SPY.
Gold remains a rival, gaining 31% this year, but crypto ETFs are proving they belong alongside traditional assets. Analysts at Bitfinex, however, caution that altcoins may not fully benefit until more ETFs win approval and fresh liquidity enters the sector.
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