Grayscale Pursues Cardano ETF Approval

Grayscale Files for Cardano ETF on NYSE

• Grayscale Investments plans to launch a Cardano exchange-traded fund (ETF) on the New York Stock Exchange.
• The filing was submitted by NYSE Arca using a 19b-4 form for a proposed rule change.
• Cardano (ADA) surged 12% to $0.748 following the ETF news, becoming the largest gainer among top cryptocurrencies.
• If approved, it would be Grayscale’s first Cardano ETF and join their existing lineup of crypto ETFs.
• The Delaware Trust Company will serve as trustee, with Coinbase Custody Trust Company holding ADA in cold storage.

Grayscale’s proposed Cardano ETF aims to provide investors with access to ADA, following its significant price increase upon the filing announcement.