21Shares has launched the first U.S. spot exchange-traded fund (ETF) tracking Polkadot, The Block reported on Thursday. The ETF began trading on the Nasdaq under the ticker symbol TDOT.
Bloomberg senior ETF analyst Eric Balchunas said the ETF started with $11 million in initial funding and has a 0.3 percent fee. Spot cryptocurrency ETFs allow investors to gain exposure to the price of a specific cryptocurrency without holding the underlying digital asset.
21Shares described Polkadot as a next-generation blockchain platform designed to connect multiple independent blockchains into an interoperable network. Developers can build their own blockchains on Polkadot to use the network's security and scalability.
21Shares also runs spot ETFs for altcoins including bitcoin, Ripple's XRP, Sui, Solana and dogecoin.
Chi-gyu Hwang
delight@d-today.co.kr