Coinbase News: 21Shares Advances Polkadot ETF Plans with Updated SEC Filing

In a significant development for the cryptocurrency market, 21Shares has made progress in its efforts to launch a Polkadot exchange-traded fund (ETF) in the United States. Here’s a closer look at the latest updates and what they mean for investors.

21Shares Advances Polkadot ETF Plans with Updated SEC Filing

Crypto asset manager 21Shares has submitted an updated S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for a spot Polkadot exchange-traded fund (ETF). This follows its initial application filed in January. The update suggests active engagement with the SEC. If approved, the ETF will trade on the Cboe BZX Exchange with Coinbase as the custodian. Grayscale has also filed for a Polkadot ETF through Nasdaq. 21Shares has recently filed for ETFs tracking Ripple (XRP) and Solana (SOL) as well.

Coinbase’s Base Acquires Iron Fish Team for Enhanced Privacy on Layer 2 Network

Coinbase-incubated Layer 2 network Base has acquired the development team behind Iron Fish, a privacy-focused blockchain project. The aim is to boost privacy features within Base. The acquisition focuses on integrating Iron Fish’s team’s expertise and does not involve the Iron Fish blockchain or its native token. Both will continue to operate independently under the Iron Fish Foundation. Key members, including CEO Elena Nadolinski, will join Coinbase to develop privacy-preserving primitives for Base, addressing transaction transparency challenges inherent in blockchain networks.