NYSE Arca has filed to list Grayscale’s first standalone Cardano ETF, marking a major step for ADA in the investment space.
Grayscale Seeks SEC Approval for Cardano ETF
NYSE Arca, a subsidiary of the NYSE Group, has officially filed with the SEC to list and trade Grayscale’s Cardano ETF. If approved, this will be Grayscale’s first standalone Cardano investment product.
The Feb. 10 filing proposes a Grayscale Cardano Trust with Coinbase Custody Trust Company as the asset custodian and BNY Mellon as the administrator.
According to NYSE Arca, this ETF would boost market competition and investor access by introducing the first ADA-based exchange-traded product (ETP).
More Crypto ETFs Are on the Horizon
Grayscale’s push for a Cardano ETF comes amid a wave of crypto ETF filings.
🔹 Feb. 6 – The SEC acknowledged Grayscale’s request to convert its Solana Trust into a spot ETF. Bloomberg analyst James Seyffart called this a notable shift since previous SOL ETF attempts were ignored.
🔹 Jan. 30 – NYSE Arca filed to convert Grayscale’s XRP Trust into a spot ETF.
🔹 Feb. 6 – Cboe BZX Exchange filed for multiple spot XRP ETFs, representing Canary Capital, WisdomTree, 21Shares, and Bitwise.
🔹 Jan. 28 – 21Shares, Bitwise, VanEck, and Canary Capital refiled for spot Solana ETFs via Cboe BZX Exchange.
Crypto ETFs Gain Momentum Under New Administration
Since Donald Trump’s election, asset managers have rushed to file crypto ETF applications. The SEC’s recent engagement with Grayscale’s Solana ETF proposal suggests a shifting regulatory stance that could benefit Cardano and other altcoins.
If the Cardano ETF gets approved, it will further cement ADA’s position in the institutional investment landscape.
