Nasdaq Files 19b-4 For 21Shares Polkadot ETF With US SEC

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Nasdaq Files 19b-4 For 21Shares Polkadot ETF With US SEC

Nasdaq has submitted Form 19b-4 to the US Securities and Exchange Commission, in which it aims at listing 21Shares’ spot Polkadot ETF. This would enable investors to invest in Polkadot by getting direct exposure to the tokens without having to directly deal with the asset directly.

Nasdaq Files 19b-4 For 21Shares Polkadot ETF

According to a recent filing, Nasdaq has submitted Form 19b-4 for a spot Polkadot ETF on behalf of 21Shares. The new ETF is to represent the Polkadot’s digital coin, the token that is the 27th in terms of its market capitalization.

This comes after 21Shares submitted an S-1 amendment discussing the firm’s intentions on offering access to a regulated fund that invests in digital asset securities.

As the sponsor of the fund, 21Shares will seek to offer a safe investment opportunity that will help the investors to benefit from the growth of Polkadot without needed to own the DOT token. Besides the Polkadot ETF, it is also working on other ETFs associated with digital assets such as solana and XRP.

Effort to Launch a Spot Polkadot ETF

Grayscale Investments, another major player in the cryptocurrency ETF space, has also filed for approval to launch its own spot Polkadot ETF. This suggests that there is high interest in Polkadot and several firms are vying to provide exposure to this asset class.

At the same time, 21Shares is considering a staking option for its Core Ethereum ETF, which would allow investors to earn extra income by staking.

However despite the filings, the US Securities and Exchange Commission (SEC) has postponed its ruling on several exchange-traded funds (ETFs) in connection with XRP, Solana, Litecoin, and Dogecoin.

Market Response to the Polkadot ETF Filing

Following the Nasdaq filing, Polkadot’s native token, DOT, saw a slight price increase. As of now, DOT’s market capitalization stands at approximately $6.7 billion.

However, despite the positive news surrounding the ETF proposal, DOT price has experienced a modest downturn, with the price showing a slight decrease of 1.12% recently. This fluctuation highlights the volatility that still characterizes the cryptocurrency market.

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Several support levels for DOT’s price are at $4.322, $4.129, and $3.826 which may act as potential rebound points if the price continues to test the lower ranges. Meanwhile, Polkadot price resistance levels at $4.599 and $4.898 represent obstacles to any short-term bullish movements.

The post Nasdaq Files 19b-4 For 21Shares Polkadot ETF With US SEC appeared first on CoinGape.

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Why Pi Network’s 275 Million Token Unlock Could Trigger Decline to All-Time Low

PI is poised to unlock over 250 million tokens in June, a move that could significantly intensify the selling pressure already weighing on the altcoin.

With technical indicators showing dwindling investor interest, PI could slide to its all-time low of $0.40 or even breach that threshold.

Pi Network Braces for June Unlock

According to data from PiScan, Pi Network is scheduled to unlock 276 million PI tokens in June. At market prices, these tokens are currently valued at approximately $176 million. 

Pi Unlock Statistics.
Pi Unlock Statistics. Source: PiScan

With market participants already cautious due to ongoing price weakness and low trading volume, the timing of this unlock could be particularly disruptive. Generally, an influx of tokens leads to heightened selling pressure, especially when investor sentiment is already bearish and there is no adequate demand to absorb the new supply.

This is the case with PI, as readings from its daily chart show signs of a continued decline in capital inflows. For example, the token’s Relative Strength Index (RSI) is in a downward trend and below the 50-neutral line at 40.49.

PI RSI
PI RSI. Source: TradingView

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.

PI’s RSI readings indicate a preference among market participants for distribution over accumulation. If this trend continues, its price could continue to slip. 

Furthermore, the token’s Aroon Down Line is at 86%, confirming the strength of the decline. The Aroon indicator is used to identify trend direction and strength. When the Aroon Down line is close to 100%, it suggests that recent price action has consistently hit new lows, indicating strong bearish momentum. 

PI Aroon Down Line
PI Aroon Down Line. Source: TradingView

At 86%, Pi’s Aroon Down level signals that the asset has been making lows with high frequency, with little to no correction recorded recently.

 Pi Price Slips Toward $0.40 — Breakdown or Bounce Ahead?

At press time, PI trades at $0.63. With strengthening selling pressure, PI bears could push its price toward its all-time low of $0.40. 

If this support floor fails to hold, the altcoin could fall to new lows.

PI Price Analysis.
PI Price Analysis. Source: TradingView

However, a resurgence in new demand for the token would invalidate this bearish outlook. In that scenario, PI could rebound and rally toward $0.86.

The post Why Pi Network’s 275 Million Token Unlock Could Trigger Decline to All-Time Low appeared first on BeInCrypto.

First-Ever XRP Futures ETF to Launch on Nasdaq Today

When Will SEC Approve an XRP ETF_ Latest Delay Explained

The post First-Ever XRP Futures ETF to Launch on Nasdaq Today appeared first on Coinpedia Fintech News

Folks – it’s happening! In a bold (and awesome) step toward mainstream crypto integration, Volatility Shares will officially launch the first-ever 1x XRP Futures ETF, and trade under the ticker $XRPI on Nasdaq. 

This debut marks a historic first for Ripple’s native token and signals that XRP may finally be stepping into the ETF spotlight long dominated by Bitcoin and Ethereum.

“Good signal that there will be demand for this one,” noted Bloomberg ETF analyst Eric Balchunas, pointing to surging interest in crypto-linked investment vehicles.

Here’s what you should know. 

Inside the XRPI Launch: Structure, Exposure, and Strategy

Filed with the U.S. SEC on May 21, the XRPI ETF is part of the Volatility Shares Trust and offers indirect exposure to XRP futures via a wholly-owned Cayman Islands subsidiary. The fund aims to invest at least 80% of its net assets in XRP-linked instruments – providing regulated access to Ripple’s price action without requiring investors to hold the token itself.

This 1x product stands out in a space mostly populated by leveraged plays, making it a more measured approach for those seeking XRP exposure without amplified volatility. 

Because some like playing it safe and there’s nothing wrong about that! 

The Race for Leverage: XRP’s ETF Wars Heat Up

This isn’t the last stop for Volatility Shares. The firm is preparing to roll out a 2x XRP futures ETF, promising double the daily price appreciation of XRP via leveraged exposure.

Teucrium Investment Advisors launched its 2x leveraged XRP ETF ($XXRP) on April 8, drawing $5.43 million in debut volume and now boasting $120 million in AUM with $35 million in daily trading volume. The demand is clear AND growing.

All Eyes on XRP

The timing couldn’t be better. Just days ago, the Chicago Mercantile Exchange (CME) rolled out XRP Futures and Micro XRP Futures, with CME’s crypto head Giovanni Vicioso noting increased appetite for “regulated derivatives products across a wider range of tokens.”

Meanwhile, the race for a spot XRP ETF is accelerating. Heavyweights like Franklin Templeton, Bitwise, and 21Shares are already lining up. With new SEC Chair Paul Atkins – a noted crypto ally – at the helm, Polymarket betters now place 83% odds on a spot XRP ETF approval this year. Those are some good odds, right? 

All in all – say hello to the next phase of XRP’s journey. We’re excited! 

The post First-Ever XRP Futures ETF to Launch on Nasdaq Today appeared first on Coinpedia Fintech News
Folks – it’s happening! In a bold (and awesome) step toward mainstream crypto integration, Volatility Shares will officially launch the first-ever 1x XRP Futures ETF, and trade under the ticker $XRPI on Nasdaq.  This debut marks a historic first for Ripple’s native token and signals that XRP may finally be stepping into the ETF spotlight …