The US SEC has acknowledged the rule change application for a Grayscale Cardano ETF filed by the NYSE Arca, giving the chances of approval a major boost.
In a Monday release, the US Securities and Exchange Commission (SEC) acknowledged the application for a Cardano ETF filed by the New York Stock Exchange (NYSE) Arca. The product, filed in asset manager Grayscale’s stead, will track the performance of ADA, the ninth-largest cryptocurrency by market cap.
Cardano Sees Boost in the Altcoin ETF Race
Recall that on February 10, the NYSE Arca filed a 19b-4 application with the US SEC for a Grayscale Cardano Trust. The rule change request shows the intention of the exchange list and trade shares of the Grayscale-managed Cardano ETF.
The Cardano investment vehicle will provide alternative exposure to institutional and retail investors seeking exposure to ADA. Notably, the Grayscale Cardano ETF has Coinbase as a custodian and BNY Mellon as…
