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The US Securities and Exchange Commission (SEC) has delayed a decision on 
whether to approve a proposed exchange-traded fund (ETF) holding Polkadot&#8217;s 
native token, regulatory filings show.
According to an April 24 filing, the regulator has extended its deadline for a 
final ruling until June 11, nearly four months after the Nasdaq sought 
permission to list Grayscale Polkadot Trust on Feb. 24.
Grayscale&#8217;s ETF filing adds to a roster of roughly 70 proposed ETFs awaiting 
SEC approval, including funds holding altcoins, memecoins, and crypto-related 
financial derivatives, according to Bloomberg Intelligence. 
Asset managers are pitching ETFs for &#8220;[e]verything from XRP, Litecoin and 
Solana to Penguins, Doge and 2x Melania and everything in between,&#8221; Bloomberg 
analyst Eric Balchunas said in an April 21 post on the X platform. Asset 
manager 21Shares is also awaiting permission to list its own Polkadot ETF.
Polkadot is a layer-1 blockchain network launched in 2020. Its native token, 
DOT (DOT), has a market capitalization of approximately $6.6 billion as of 
April 24, according to CoinMarketCap.
_Polkadot &#8216;s price over time. Source: __CoinMarketCap_
 _**Related:**__**Institutions break up with Ethereum but keep ETH on the 
hook**_
## Altcoin ETF pipeline
Grayscale is among multiple asset managers seeking regulatory clearance to 
list altcoin ETFs in the US. The company is already behind several crypto 
funds, including spot Bitcoin (BTC) and Ether (ETH) ETFs.
The asset manager has also asked for permission to launch ETFs holding tokens 
such as Solana (SOL), Litecoin (LTC), XRP (XRP), Dogecoin (DOGE), and Cardano 
(ADA).
_Crypto ETFs scheduled for SEC review. Source: __Eric Balchunas/Bloomberg_ 
The pipeline of proposed fund listings comes as more than 80% of institutional 
investors say they plan to boost allocations to crypto in 2025, according to a 
March report by Coinbase and EY-Parthenon.
However, analysts caution that demand for altcoin ETFs is likely to be much 
more limited than for funds holding core cryptocurrencies such as Bitcoin and 
Ether.
&#8220;Having your coin get ETF-ized is like being in a band and getting your songs 
added to all the music streaming services,&#8221; Balchunas said.
&#8220;Doesn&#8217;t guarantee listens but it puts your music where the vast majority of 
the listeners are.&#8221;
_**Magazine: **__**Altcoin season to hit in Q2? Mantra &#8216;s plan to win trust: 
Hodler&#8217;s Digest, April 13 &#8211; 19**_

SEC delays decision on Polkadot ETF

Capital poured into US-listed Bitcoin exchange-traded funds this week, with 
Tuesday alone witnessing nearly $1 billion in fresh cash. The rush propelled 
weekly inflows to $1.2 billion and total assets under management (AUM) to $103 
billion, based on Bloomberg data. The investment deluge occurred while 
Bitcoin&#8217;s price rose above $93,000, reaching $93,700 – its highest since early 
March. Related Reading: Bitcoin Rockets To Monthly Highs As Open Interest 
Explodes By Over $3 Billion BlackRock Fund Remains Top Dog Among Rivals 
BlackRock&#8217;s iShares Bitcoin Trust (IBIT) remains at the forefront with year- 
to-date inflows of $2.7 billion. The fund took in another $346 million last 
week alone. Ark Invest&#8217;s ARKB and Grayscale&#8217;s Bitcoin funds lag behind with 
significantly smaller year-to-date inflows of $410.41 million and $385.31 
million. Not everything is coming up roses, however. Grayscale&#8217;s GBTC has seen 
$1.18 billion of outflows since January, going against the overall positive 
tide. The spot bitcoin ETFs went Pac-Man mode yesterday, +$936m, $1.2b for 
week. Also notable is 10 of 11 of the originals all took in cash too. Good 
sign to see flow depth vs say $IBIT doing 90% of the lifting. Price up $93.5k. 
Pretty strong all things considered IMO. pic.twitter.com/HeLwffgT8F — Eric 
Balchunas (@EricBalchunas) April 23, 2025 Increasing Institutional Confidence 
Reflected In Broad Participation Ten of 11 spot Bitcoin ETFs saw inflows of 
fresh funds this week, Bloomberg senior ETF analyst Eric Balchunas reported. 
They&#8217;re going &#8220;Pac-Man mode&#8221;, the analyst said on X. That broad-based 
involvement indicates institutional players are diversifying their bets into 
several funds rather than focusing on one or two. The value traded across all 
Bitcoin spot ETFs totaled $496 million, while net assets in them now represent 
nearly $57 billion – equivalent to around 2.80% of Ethereum&#8217;s market cap. 
Ethereum Products Keep Losing Streak While XRP Shocks As Bitcoin-linked 
investments thrive, Ethereum products simply can&#8217;t seem to get a break. 
According to reports from CoinShares, investment products centered around 
Ethereum lost yet another $26.7 million last week. This takes their eight-week 
outflow amount to a mind-boggling $772 million. Even in the face of this 
continued outflow, Ethereum remains in second place for year-to-date inflows 
at $215 million. Short Bitcoin Products Under Ongoing Pressure Short Bitcoin 
products are experiencing the squeeze. Short BTC products had their seventh 
consecutive week of outflows, with $1.2 million exiting these funds. 
CoinShares data show that these short bets have now lost $36 million over 
seven weeks – 40% of their assets under management. The ongoing outflows from 
short positions are consistent with Bitcoin&#8217;s recent price strength. Related 
Reading: No Crown Yet? Bitcoin Needs To Prove Itself One Win At A Time—Analyst 
XRP is the only exception among alternative coins, and its investment products 
attracted over $37 million last week, the third highest for year-to-date 
inflows on $214 million. This defies the trend observed in most of the other 
altcoins, which still face selling pressure. Certainly, all of this new money 
being poured into Bitcoin ETF investments is perhaps the clearest sign yet 
that traditional financial institutions are coming around to cryptocurrency as 
an asset class. We&#8217;re talking almost $1 billion coming into the market in just 
one day: this looks like the dawn of a new era in which acceptance of the 
asset class by the mainstream is even greater. Featured image from 
Wallpapers.com, chart from TradingView

Spot Bitcoin ETFs Go ‘Pac-Man’ Mode, Gobble Up $1.2 Billion In 1 Week

The US Federal Reserve has announced it would withdraw guidance for banks 
engaging in crypto asset and stablecoin-related activities. 
&#8220;The Board is rescinding its 2022 supervisory letter establishing an 
expectation that state member banks provide advance notification of planned or 
current crypto-asset activities,&#8221; the Board of Governors of the Federal 
Reserve explained in an April 24 statement.
Any crypto-related activities will now be monitored through the Federal 
Reserve&#8217;s normal supervisory process, it said. 
The Federal Reserve is also rescinding its 2023 supervisory letter that 
impacted how state banks could engage in stablecoin activities.
This is a developing story, and further information will be added as it 
becomes available.