Polkadot Price Slumps to $0.774 as Grayscale Withdraws ETF Plan

Polkadot's price has fallen below $0.80 as Grayscale withdrew its proposed Polkadot Trust ETF, a move that removes a potential US-listed investment product for DOT.

The decision came after Grayscale submitted its withdrawal request to the US Securities and Exchange Commission on August 7, stating it was not continuing with the planned distribution of the trust's shares. Although the SEC did not reject the ETF, Grayscale chose to withdraw its registration before any shares were issued or sold.

This move has left Polkadot without a possible route for investors seeking exposure through a regulated US-listed product, and it remains unclear if another issuer will pursue a DOT ETF in the future.

DOT's price has now dropped below $0.79-$0.80, an area that previously helped buyers contain declines, but as it is unable to hold that level, its recovery looks increasingly shaky.