Polkadot fell below $0.80 after Grayscale withdrew its proposed Polkadot Trust ETF with the SEC on August 7. DOT was already sliding before the filing, and traders now watch $0.75 as the next line of defense.
Polkadot fell below $0.80 as sellers erased another part of the token's early-August recovery. The weakness comes after Grayscale abandoned plans for its proposed Polkadot Trust ETF, removing a potential US-listed investment product for DOT. But before the withdrawal, the token was already losing ground, according to its price chart.
Grayscale walks away from Polkadot ETF
Grayscale submitted its withdrawal request to the SEC on August 7, saying it was not continuing with the planned distribution of the trust's shares. Its registration statement had been active since August 2025, but the product never reached the market, and the filing gives no reason for the decision.
The SEC did not reject the ETF — Grayscale chose to withdraw its registration before any shares were issued or sold. The company also withdrew other proposed products within minutes of the Polkadot filing, making it difficult to read the move as a negative judgment on DOT specifically.
Still, Polkadot loses a possible route for investors seeking exposure through a regulated US-listed product. Whether another issuer eventually pursues a DOT ETF remains unclear.
Can Polkadot price recover above $0.80?
DOT traded near $0.774 on August 13 after its latest rebound failed to move beyond $0.87. The token has now dropped below the $0.79–$0.80 area that previously helped buyers contain declines, and its inability to hold that level leaves the recovery looking shaky.
Trading activity increased when DOT turned lower in early August, and On-Balance Volume has continued to fall, suggesting buying interest has weakened alongside the price. The next area to watch is around $0.75: buyers defending that level could give DOT another shot at $0.80, while a break below it would put $0.70 back in view.
Even a return above $0.80 would only be an early improvement. DOT would still need to overcome the $0.86–$0.90 zone, where it saw a sell-off, before the broader recovery looks more convincing.
Source: AMBCrypto
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