BlockBeats News, March 7th, asset management company 21Shares launched the first physically-backed Polkadot ETF in the United States, with the ticker symbol TDOT, now trading on Nasdaq.
Eric Balchunas stated that the ETF started with $11 million in seed funding and has a management fee of 0.3%. Physically-backed cryptocurrency ETFs allow investors to speculate on the price movements without directly holding the digital assets.
21Shares indicated that Polkadot is a blockchain network designed to connect multiple independent blockchains and achieve interoperability. Currently, its native token DOT has a market capitalization of around $1.7 billion. Previously, 21Shares has launched physically-backed ETFs tracking the prices of assets such as Bitcoin, XRP, Solana, Dogecoin, and Sui.
