Grayscale Cardano ETF Listing on NYSE

NYSE Arca Proposes Listing Grayscale Cardano ETF Under Ticker GADA

• NYSE Arca filed a proposal to list the Grayscale Cardano ETF under the ticker GADA.
• The ETF aims to provide investors with exposure to Cardano (ADA) via traditional stock market channels.
• The fund will hold ADA directly, with each share representing proportional ownership of the underlying assets.
• This marks the first US spot ETF for Cardano, following other crypto ETF applications including XRP and Solana.
• The SEC previously classified ADA as a security in lawsuits against Binance and Coinbase in 2023.

NYSE Arca’s proposal seeks to list the Grayscale Cardano ETF, offering direct exposure to ADA. This initiative follows a trend of crypto ETF applications, despite regulatory challenges faced by ADA and similar assets like SOL and XRP.