SEC Acknowledges Grayscale’s Cardano ETF Filing

Reading Time: < 1 minute

Grayscale has submitted an application for a spot Cardano ETF, which the US Securities and Exchange Commission (SEC) has acknowledged, marking the beginning of the SEC’s review process for the Grayscale Cardano Trust. If approved, the ETF would be listed and traded on NYSE Arca.

The Grayscale Cardano ETF is designed to provide investors with regulated exposure to Cardano (ADA). Approval would allow investors to purchase shares representing fractional ownership in the Grayscale Cardano Trust.

The ETF will track Cardano’s price through an index based on prices from several crypto exchanges, such as Coinbase and Crypto.com.

This filing by Grayscale follows a similar application submitted by NYSE Arca on February 10, with the intention of listing and trading shares of the Grayscale Cardano Trust on its platform. Investors won’t hold ADA directly but will obtain indirect exposure to Cardano through ownership of trust shares.