Crypto Investment Firm Grayscale on Monday to list a Cardano (ADA) Exchange Traded Fund at New York Stock Exchange.
Grayscale, who last year broke through US regulators’ blockade against Bitcoin ETF, has never previously offered an independent ADA investment vehicle despite having made the move of the past to do so.
But Trump 2.0 SEC’s turn from politicizing the crypto industry to apparently embracing it has Embolddered issuers to think big about what they can get through. In recent weeks, Grayscale also filed a Solana and XRP ETF.
These products would convert Grayscales existing existing Crypto Trust products to more marketable ETFs, while Ada Etf would be brand new.
Investor demand has always been high for the flagship active for Cardano Blockchain. Ada ranks among the largest crypto assets in market capital, which weighs in at $ 25 billion at the time of the press. Token spiked 1.5% to 71 cents after Grayscale News.
Market Observers are increasingly believing that time is close to ALTCOIN ETFs clearing the non-hero-tip-tiped SEC. But an ADA vehicle had not been on the radars of many commentators despite the coin’s popularity.
Grayscale did not immediately return a request for comment.
