Clients of investment banks Goldman Sachs, JPMorgan and UBS were among buyers of an exchange-traded product (ETP) based on Polkadot from 21Shares. CoinDesk reports, citing data from the Bloomberg terminal.
Trading of the DOT ETP began on February 4 in SIX’s regulated market, the largest Swiss stock exchange. The exchange lists 34 exchange-traded products from six providers, including 21Shares.
Trade data for 21Shares’ Polkadot-based ETP. Data: CoinDesk.
Each lot in the illustration reflects one unit of the DOT cryptocurrency. At the time of writing, the Polkadot token price stands at $31.33 (per CoinGecko). Over the last seven days, DOT has risen by 33.3%.
Polkadot and Cardano are vying for fourth place in the crypto-asset market-cap ranking.
The publication notes that activity in DOT ETP among Wall Street players points to rising interest in altcoins.
According to Laurent Kssisa, head of the ETP line at 21Shares, the Polkadot-based ETP has attracted a total of $15 million to date.
What is a crypto ETF?
In December, 21Shares withdrew the XRP token from Ripple from exchange-traded products.
In February, the venture firm Digital Finance Group announced the creation of a dedicated fund of $20 million to support projects in the Polkadot network.
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