Cardano ETF: SEC Acknowledges Grayscale Filing

SEC Acknowledges Grayscale’s Spot Cardano ETF Filing

• The SEC acknowledged Grayscale’s filing for a spot Cardano (ADA) ETF on February 24, 2025.
• The ETF aims to offer regulated exposure to Cardano, tracking its price through an index surveying multiple exchanges like Coinbase and Kraken.
• Coinbase Custody Trust Company is proposed as the custodian, with BNY Mellon Asset Servicing as the transfer agent and administrator.
• The SEC’s review process includes a public comment period and is expected to conclude by August 2025.
• This acknowledgment is part of a broader review of crypto ETF applications, including Solana (SOL), XRP, and Litecoin (LTC).

The SEC has initiated a regulatory review process for Grayscale’s proposed spot Cardano ETF, with a decision expected by August 2025. The ETF seeks to provide investors with regulated exposure to ADA without directly holding the cryptocurrency.