Cardano ADA News: Grayscale Files for Spot Cardano ETF on NYSE, Signaling Potential Entry into US Markets

Grayscale, a leading digital currency asset manager, has filed paperwork with the New York Stock Exchange (NYSE) for a spot Cardano (ADA) ETF. This marks the first-ever ADA-based product that could potentially enter US markets, opening up a new layer of market activity and enhancing competition for investors.

Grayscale Files for Spot Cardano ETF with NYSE

Grayscale has filed paperwork with the New York Stock Exchange (NYSE) for a spot Cardano (ADA) ETF, marking the first-ever ADA-based product that could potentially enter US markets. The proposed rule change, according to NYSE Arca, would enable ADA to be traded like a typical exchange-traded product, enhancing competition and benefiting investors by opening up a new layer of market activity. This move comes as Grayscale continues to expand its crypto offerings, with regulatory approvals being facilitated by the crypto-friendly administration of President Donald Trump.

Grayscale Files for Cardano (ADA) ETF with NYSE, Signaling Potential Price Recovery

Crypto asset manager Grayscale has filed for a Cardano (ADA) exchange-traded fund (ETF) with the New York Stock Exchange (NYSE), indicating a potential sustained price recovery for the digital asset. The move comes as Cardano's price continues to recover slightly on Tuesday, following a rebound of almost 5% the previous day. Technical outlook and on-chain data suggest further recovery for ADA.

Grayscale Files for First-Ever US Spot Cardano ETF

ADA Price Surges as Grayscale Files for First-Ever US Spot Cardano ETF. This filing stands out from previous ones, representing a direct ETF launch rather than a conversion. Grayscale has not yet offered a standalone investment product for ADA, marking a new chapter in its investment offerings. The exchange submitted the 19b-4 filing to the SEC on February 10. The proposed ETF aims to offer investors regulated exposure to Cardano. Moreover, if approved, the shares will be listed under the ticker symbol 'GADA'. 'While an investment in the Shares is not a direct investment in ADA, the Shares are designed to provide investors with a cost-effective and convenient way to gain investment exposure to ADA,' the filing stated.

Cardano (ADA) Jumps 15.7% In 24 Hours: Will Hit $1 This Week?

Cardano (ADA) has seen a notable price surge, becoming the top performer among the top 10 cryptocurrencies. The asset's price has risen 15.7% in the daily charts, 6.4% in the weekly charts, and 42.7% since February 2024. Despite this rally, it's still down by 16.5% in the 14-day chart and 20.8% over the previous month. The latest price spike follows Grayscale's spot ADA ETF application, aiming to list on the New York Stock Exchange, sending a frenzy through the ADA community.

Grayscale's Spot ADA ETF Application Sends Frenzy Through ADA Community

Grayscale has filed an application to list a spot ADA ETF on the New York Stock Exchange. This move has generated significant excitement within the ADA community, with many anticipating a positive impact on the asset's price. According to analysts, there is a high probability that the SEC will approve ETFs for several cryptocurrencies, including XRP, Solana, Dogecoin, and Litecoin.