Chainlink, Cardano, BNB, and Polkadot: Applications for ETFs submitted

Chainlink, Cardano, BNB, and Polkadot: Applications for ETFs Submitted

In the United States, the company Hashdex has submitted applications to the U.S. Securities and Exchange Commission (SEC) for exchange-traded funds (ETFs) on Chainlink (LINK), Cardano (ADA), Binance Coin (BNB), and Polkadot (DOT). The pronouncements fit into the growing interest of the U.S. financial markets in broadening the categories of potential ETFs.

ETF investment products allow people to invest in individual assets or indexes without directly buying the respective cryptocurrencies themselves. Such ETFs have already been approved in some regions of the world for Bitcoin or Ethereum. However, the world’s largest market, the U.S., still remains largely skeptical of this type of crypto financial products.

Hashdex, a known service provider in the crypto sector, is now making efforts to change this situation. Last week, it filed applications for Chainlink ETFs and Cardano ETFs, and this week followed up with submissions for BNB and Polkadot. The company is an internationally recognized expert and already manages ETFs on the Bermuda Stock Exchange.

Potential Market Success Through More Comprehensive Offerings

Hashdex is riding a trend that promises good chances of success: U.S. financial regulators have in recent years significantly increased the list of potential prospects for ETFs and similar funds, aiming to open up a new investor base. By approaching this trend, Hashdex intends to set new standards.

Chainlink, Cardano, BNB, and Polkadot belong to central parts of the crypto market. All four projects have promising futures and are regarded as multi-purpose networks that can play important roles in a new era of decentralized financial services. If recognized investments by traditional financial markets increase in the future, Hashdex anticipates significant interest and, by extension, an expansion of investment opportunities.

Deadlines Set But No Quick Decision in Sight

Even though the applications for Chainlink, Cardano, BNB, and Polkadot ETFs have been submitted to the SEC, quick approvals are not expected. Hashdex is bracing for a lengthy procedure. This is because the applications require the SEC to examine the respective paperwork carefully and involve a comprehensive assessment of locations, guidelines, and compliance criteria.

While initial comments from the market have been positive, potential investors will likely need to be patient. The SEC is known for its caution and thoroughness, especially regarding new asset classes. Nevertheless, the broad interest and expanded range of potential products increase the probability that ETFs based on these cryptocurrency values will also be traded on U.S. soil at some point in the future.