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Nasdaq Submits Filing To List Grayscale Polkadot ETF, DOT Price To $34?

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6 hours ago

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Polkadot’s (DOT) price has recovered despite the recent crypto market crash after Nasdaq filed a request with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Polkadot ETF.

This move follows similar filings for other altcoins, including XRP and Cardano. Analyst are now speculating on the potential price movement of DOT, with some anticipating a rise to $34 if the Polkadot ETF gains approval.

Nasdaq Seeks SEC Approval for Grayscale Polkadot ETF

According to a recent filing, Nasdaq has submitted Form 19b-4 to the SEC to list and trade shares of the Grayscale Polkadot Trust (DOT). This filing marks the latest step in expanding cryptocurrency-based investment products on traditional exchanges.

Grayscale Investments, the firm behind the ETF, aims to offer investors regulated exposure to Polkadot’s native token. The US SEC now has a 45-day review period to acknowledge the filing, after which it can approve, deny, or extend the review process.

Grayscale’s filing follows a similar request from 21Shares, which submitted an application for a spot Polkadot ETF late last month. Following the Polkadot ETF filing, DOT price saw a brief 4% increase before declining 6% in the last 24 hours, trading at $4.4.

Polkadot ETF Part of Grayscale’s Broader Crypto Strategy

Grayscale has been increasing its ETF offerings as regulatory sentiment toward cryptocurrencies evolves. Along with the Polkadot ETF, the company has recently applied to convert its XRP Trust into an ETF and filed for a spot Cardano ETF, which has been acknowledged. Other potential products tied to digital assets such as Solana (SOL), Dogecoin (DOGE), and Litecoin (LTC) are also being considered.

These filings come as the US SEC, under the Trump administration, has adopted a more open stance toward digital assets under the leadership of acting US SEC chair Mark Uyeda. The regulator recently dropped several crypto-related investigations, including cases against Robinhood, Coinbase and the NFT marketplace OpenSea. Consequently, market analysts believe this shift could improve the chances of approval for multiple spot crypto ETFs.

The Polkadot ETF filing is part of a broader trend of increasing institutional interest in cryptocurrency investment products. Recently, Tuttle Capital Management proposed a leveraged 2x Polkadot ETF but later withdrew its filings for all leveraged crypto ETFs.

James Seyffart, an ETF analyst at Bloomberg, commented on the growing number of crypto ETF applications, stating,

“Altcoin ETFs are coming.” More filings for XRP and Litecoin ETFs are expected in the coming days.

Will Polkadot Price Rally To $34?

Despite the recent pullback, market analysts believe that DOT’s price could see a substantial upside if key resistance levels are broken.

The first major resistance level stands at $6, which must be cleared for strong upward momentum to develop. If DOT breaks above this level, it could gain strength and move toward the next significant resistance point at $11.

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This level has already been tested twice but rejected, making it a critical threshold for further price action. A successful breakout above $11 would indicate a strong bullish trend, potentially clearing the path toward $34 with minimal resistance.

According to the analyst, if the Polkadot price experiences a slow and steady decline, it may continue searching for a strong bottom before a potential rebound. However, in the event of a sharp and rapid drop, a V-shaped recovery could take place, leading to an equally strong bounce for DOT price.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Analyst Predicts XRP Price To Hit $77 Despite Market Correction

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2 hours ago

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February 25, 2025

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Crypto analyst Egrag Crypto has provided a bullish outlook for the XRP price, predicting that the crypto could rally to as high as $77. This prediction comes amid the correction in the broader crypto market, with XRP suffering a significant price decline.

Analyst Predicts XRP Price To Hit $77

In an X post, crypto analyst Egrag Crypto predicted that the XRP price could rally to $77. The analyst’s accompanying chart showed that XRP could reach this price target between now and 2026.

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This bullish price prediction came as the analyst gave an update on XRP’s monthly Relative Strength Index (RSI). According to him, a double-top pattern is approaching. He added that the RSI must hold above 65. Otherwise, the crypto may touch the 14 Simple Moving Average (SMA). However, this may not be bad, as Egrag Crypto noted that historical data suggests this often precedes a significant pump.

Egrag Crypto also revealed that the Bollinger Bands on the RSI are currently showing a wide range. He remarked that historical cycles indicate that XRP often reaches the top of the band or even exceeds it on the second attempt. In line with this, the analyst remarked that market participants are not bullish enough for what is ahead.

This bullish outlook for the XRP price comes amid the recent crypto market crash, which saw Bitcoin, Ethereum, Solana, and even XRP drop significantly. As a result, XRP has dropped to number four on the crypto rankings by market cap.

A Potential Bounce From Current Price Levels

Egrag Crypto suggested that the XRP price could witness a bounce from its current level. In his analysis of the 4-hour chart, he noted that the crypto is witnessing three green candles after recording around seven consecutive red candles.

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The crypto analyst remarked that if XRP can establish a solid foundation around the $2.07 level, it could confirm a double-bottom formation. He highlighted $2, $1.855, and $1.73 as three other potential targets that can still be considered as part of this formation.

The analyst’s chart showed that a bounce from these price levels could send the crypto back to its local highs and possibly pave the way for a rally to a new all-time high (ATH). A potential bounce for XRP will also likely depend on the Bitcoin price action.

Meanwhile, crypto analyst Ali Martinez suggested that the XRP price could still drop lower before it experiences a bounce. In an X post, he stated that the crypto is breaking out of an ascending parallel channel, targeting $1.65.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Eric Trump Urges Investors To Buy The Dip Amid Crypto Market Selloff

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3 hours ago

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February 25, 2025

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Bitcoin price experienced a sharp decline, falling below $89,000 for the first time in three months on February 25. The crypto lost over 8% in value within a single day, triggering widespread concern among investors. However, Eric Trump, the son of U.S. President Donald Trump, took to X to encourage investors to capitalize on the crypto market selloff.

Eric Trump Encourages Investors to Buy the Dip

In a recent post on X, the son of U.S. President Donald Trump weighed in on the crypto market selloff, urging investors to “Buy the dips!” His message resonated with those who view corrections as a chance to accumulate Bitcoin at lower prices. Eric Trump’s statement sparked reactions across the crypto community, with some seeing it as a show of confidence in Bitcoin’s long-term potential.

Michael Saylor, Executive Chairman of Strategy, also responded to the crypto market decline. He referred to the price drop as a “Bitcoin sale,” hinting that his company may take advantage of the lower prices. Saylor has consistently supported Bitcoin and led Strategy to accumulate significant holdings over the years.

Reacting to Eric Trump’s tweet, the CEO of Strategy added,

“The best advice, volatility is a gift to the faithful.”

Despite optimism from some, skepticism remained among other financial experts. Gold advocate Peter Schiff dismissed the idea of buying the dip, warning that further declines could follow. Schiff has long criticized Bitcoin, arguing that it remains a speculative asset prone to severe price swings.

MicroStrategy Continues Expanding Its Bitcoin Holdings

Amid the crypto market selloff, Strategy, formerly MicroStrategy, confirmed another major Bitcoin acquisition. The firm announced a $2 billion purchase, securing 20,365 BTC at an average price of $97,514 per coin. This addition aligns with the company’s long-term accumulation strategy, which aims to hold $42 billion worth of Bitcoin over the next three years.

Following its latest purchase, Strategy’s Bitcoin holdings have grown to approximately 499,096 BTC, valued at around $47 billion based on current prices. This represents nearly 2.4% of Bitcoin’s total supply, positioning the company as the largest corporate Bitcoin holder.

The company has continued its buying strategy despite fluctuations in Bitcoin price. While some view this as a commitment to long-term investment, others caution that the strategy carries risks given the volatile crypto market.

A Buying Opportunity or Further Declines?

The broader crypto market also experienced losses, with Ethereum (ETH) dropping 9% to $2,405 and Solana (SOL) falling 7% to $143. Bitcoin’s market capitalization fell to $1.76 trillion, reflecting increased selling pressure across digital assets.

Meanwhile, Standard Chartered’s head of crypto research, Geoff Kendrick, suggested that Bitcoin could see further declines. He predicted an additional 10% drop, potentially bringing prices down to the early $80,000 range. Kendrick pointed to ongoing outflows from U.S. Bitcoin spot ETFs as a key factor that could contribute to extended losses.

While some, like Eric Trump and Michael Saylor, view the current crypto market selloff as an opportunity, others remain cautious about the potential for further downside.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Will US SEC Approve Grayscale’s XRP ETF This Week?

Published

7 hours ago

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February 25, 2025

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As the US Securities and Exchange Commission (SEC) has scheduled its next closed-door meeting this Thursday, all eyes are on a potential XRP ETF approval. In addition, the SEC’s ongoing review of Grayscale Investment’s XRP ETF application has fueled anticipations of the product approval this week.

XRP ETF Approval Anticipation Grows: SEC Decision Looms

The US SEC has increasingly sparked optimism with repeated acknowledgments of XRP exchange-traded funds. While this move highlights the agency’s shifting regulatory stance to crypto, the community expects an imminent approval of XRP’s investment product.

In a recent development, the SEC scheduled its next closed-door meeting on February 27, 2025 (Thursday). Notably, the regulator has directly highlighted the inclusion of discussions surrounding XRP ETF in the meeting. In particular, the SEC emphasized Cboe’s proposal to list and trade the XRP fund, stating,

Cboe BZX Exchange, Inc. (“BZX” or “the Exchange”) is filing with the Securities and Exchange Commission a proposed rule change to list and trade shares of the Bitwise XRP ETF under BZX Rule 14.11 (e)(4), Commodity-Based Trust Shares.

Grayscale’s XRP ETF Under Review: What It Means?

Notably, Grayscale Investment filed to convert its $16 million XRP trust to an exchange-traded fund in January 2025. After becoming the first XRP ETF to be acknowledged by the SEC, it recently entered the SEC review list.

Recently, the US SEC published Grayscale’s XRP ETF filing on the Federal Register, sparking widespread optimism. With the move, the SEC has begun a 240-day review period to decide whether to approve or oppose the ETF launch. Thus, the SEC’s decision on Grayscale’s XRP ETF could be expected before October 18, 2025.

Driven by the regulator’s recent announcement, the community anticipates an early approval of Grayscale’s XRP fund. However, as the SEC hasn’t mentioned Grayscale in the closed-meeting agenda, it remains unclear if the commission would consider it on the day.

Will SEC Lawsuit Settlement Precede ETF Approval?

Interestingly, the excitement around potential ETF approval is paired with increasing speculation about a looming Ripple lawsuit settlement. While the settlement of Coinbase and Robinhood cases has sparked excitement about an early Ripple lawsuit settlement, experts predict a possible delay. MetaLawMan stated that it could find a conclusion before Ripple files its appellate brief on April 16, 2025. He cited the complexities surrounding the lawsuit as the major reason for the delay.

Meanwhile, legal expert Jeremy Hogan commented that the XRP lawsuit settlement is likely to occur before the SEC’s XRP ETF approval. His statement was based on the long procedures involved in the regulatory approval of the fund.

XRP Price Slumps Despite Increasing ETF Odds

Significantly, the XRP ETF approval odds on Polymarket surged to 80%, fueling market adoption. While XRP awaits to join Bitcoin and Ether as the latest SEC-approved exchange-traded fund, the token value plummets to a 23 day-low.

As of press time, XRP is trading at $2.21, marking a daily decline of around 10%. Over the last week and month, XRP has faced grave dips of 15.7% and 28.8%, respectively. Most importantly, XRP, which enjoyed the third spot on CoinMarketCap over the past weeks, has slipped to the 4th position, with a market cap of $128 billion.

However, the growing ETF expectations have boosted investor confidence. This is demonstrated by the staggering 215.8% uptick in the daily trading volume, currently at $12.64 billion.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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