The Securities and Exchange Commission (SEC) is considering a proposed rule change submitted by The Nasdaq Stock Market to allow the listing and trading of shares of the Grayscale Polkadot Trust on Nasdaq under a specific rule for commodity-based trust shares. The original deadline for the SEC to make a decision was April 27, 2025, but they have extended it to June 11, 2025, to allow more time to review the proposal and the issues it might raise. This extension ensures that the SEC can carefully evaluate whether to approve, disapprove, or gather further information on the proposed change.
Simple Explanation
The SEC is taking more time to decide if a new type of stock related to Polkadot, a type of digital currency, can be bought and sold on the Nasdaq. They will make their decision by June 11, 2025, because they want to make sure everything is in order before saying yes or no.