- 21Shares made an S-1 deposit with the US dry for an ETF Polkadot
- Crypto Community shared their mixed reactions when the news of the application broke out
It seems that the Altcoin ETF craze does not slow down in 2025. While the market awaits the dry decision on SolaraApplications Litecoin, XRP and Dogecoin, Polkadot has joined the list now.
On January 31, the 21Shares digital asset manager filed a S-1 shape (Recording statement) with the regulator of its FNB Polkadot offered. This marked the first application for Altcoin in the United States.
Source: dry
Mixed reactions to Polkadot ETF
Curiously, however, submission received more reprimands than praise from the cryptographic community. In fact, some joking users declared that it was “worse than XRP ETF”.
Reacting to the extremely negative response to the application by a section of the Crypto community, the analyst of Bloomberg Etf James Seyffart declared,,
“It was up there with the hate that I have never seen an ETF deposit on this site. People really don’t like Polkadot … The market will decide where the value is located and if there is value in the launch of such a product. If no one puts money in an ETF from Polkadot – he will close. »»
On the side of the chain, Dot saw a Blip in social volume and a peak of positive feeling after the deposit. However, at the time of the editorial of February 1, the feeling had embittered. This could be linked to the negative response of the community or to the strong decline in Bitcoin during the weekend.
Source: Santiment
That said, the deposit was marked by a massive lever effect exchange and not a strong market demand to the point which could lead to a sustainable rally on the graphics.
This was illustrated by the jump in the OI (open interest), alongside the corresponding flat CVD point (market request to cash).
Source: Coanyze
If market demand to the point of the week extends, the last dowry rebound could be in danger. On the 3 -day price table, the dowry price has put a channel since the beginning of 2024. During the same period, the key levels were $ 4 and $ 11.
However, the last decline seemed to have stabilized above $ 5.5, but was lower than the key mobile averages. If the broader feeling of the market worsens in the coming days, DOT could flow at $ 4.
Source: dot / usdt, tradingView
On the contrary, a recovery of $ 7.5 could strengthen the chances of additional recovery to the peak around the $ 11 to $ 12 Prix area.
