Crypto investment firm Grayscale filed the New York Stock Exchange on Monday to list the Cardano (ADA) Exchange Transaction Fund.
Greyscale, which broke US regulators' lockdowns against Bitcoin ETFs last year, has not previously offered a standalone ADA investment vehicle despite its past moves.
But from policing the Trump 2.0 seconds of crypto industry to seemingly hugging, Pivot is boldly thinking that it has led to a big sensibility for publishers to think beyond. Over the past few weeks, Grayscale has also applied for Solana and the XRP ETF.
These products convert Grayscale's existing Crypto Trust products into more widely tradeable ETFs, but the ADA ETFs are completely new.
Investor demand has always been high for Cardano Blockchain's flagship assets. The ADA is one of the largest crypto assets by market capitalization, weighing $25 billion in reporting times. The tokens surged from 1.5% to 71 cents following grayscale news.
Market Observers increasingly believe that time is nearing for Altcoin ETF to clear unskeptical Sec. However, the ADA vehicle was not on the radar of many commentators despite the popularity of the coin.
Grayscale did not immediately return a request for comment.
Arabic
Chinese (Simplified)
Dutch
English
French
German
Italian
Portuguese
Russian
Spanish