Grayscale Seeks SEC Approval for First-Ever Cardano ETF on NYSE: What Does This Mean for Investors? – BlockNews.com
😲 Grayscale files for Cardano (ADA) ETF: Grayscale has applied to list a Cardano (ADA) exchange-traded fund on the New York Stock Exchange, marking its first standalone ADA investment product. Regulatory environment improving: Under the Trump 2.0 administration, the SEC appears more open to crypto ETFs, prompting Grayscale to also file for Solana (SOL) and XRP ETFs alongside ADA. Market reaction: Following the ETF news, ADA rose 1.5% to $0.71, with analysts expressing optimism about
- Grayscale files for Cardano (ADA) ETF: Grayscale has applied to list a Cardano (ADA) exchange-traded fund on the New York Stock Exchange, marking its first standalone ADA investment product.
- Regulatory environment improving: Under the Trump 2.0 administration, the SEC appears more open to crypto ETFs, prompting Grayscale to also file for Solana (SOL) and XRP ETFs alongside ADA.
- Market reaction: Following the ETF news, ADA rose 1.5% to $0.71, with analysts expressing optimism about the increasing chances of altcoin ETFs gaining regulatory approval.
Crypto investment giant Grayscale has taken a bold step, filing to list a Cardano (ADA) exchange-traded fund (ETF) on the New York Stock Exchange. This marks a significant move, especially after Grayscale broke past regulatory barriers with a Bitcoin ETF last year. Surprisingly, despite ADA’s popularity, Grayscale had never offered a standalone ADA investment vehicle until now.
A Shift in SEC Attitude Sparks New Opportunities
Grayscale’s recent actions suggest a shift in the SEC’s stance on crypto. Under the Trump 2.0 administration, regulators have pivoted from strict oversight to what seems like cautious acceptance of crypto products. In addition to the ADA filing, Grayscale has also applied for Solana (SOL) and XRP ETFs, signaling confidence in a more favorable regulatory environment.
Unlike these conversions from existing trust products, the ADA ETF would be a brand-new offering. This is a significant development given ADA’s strong investor demand, with the asset currently boasting a market cap of $25 billion.
Market Reacts as ADA Price Rises
News of the ETF filing caused Cardano (ADA) to spike 1.5%, reaching $0.71. ADA remains one of the largest crypto assets by market cap, supported by a loyal community and increasing adoption.
Market analysts believe the momentum for altcoin ETFs is building, with optimism growing that the SEC will approve more of these products in the near future. Despite ADA’s popularity, the coin hadn’t been on many radars for an ETF—making Grayscale’s move both surprising and strategic.
Grayscale has yet to comment on the filing, but this development could signal a new era for crypto investment opportunities.
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