Grayscale Files for Spot ADA ETF: Assessing Impact on Cardano Price
The post Grayscale Files for Spot ADA ETF: Assessing Impact on Cardano Price appeared on BitcoinEthereumNews.com.
Grayscale Investments has filed for a spot Cardano (ADA) exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC) through NYSE Arca. This might have a significant impact on Cardano price. The NYSE Arca Rule 8.201-E proposal aims to enable investors to access Grayscale Cardano Trust shares. Grayscale fought regulators for an extended period before successfully participating in launching the first Bitcoin ETF. In recent months, Grayscale has rapidly expanded to offer new altcoin ETFs by filing applications for Solana (SOL) and XRP. The Cardano ETF represents an original product since it differs from traditional trusts being transformed into ETFs. BREAKING: GRAYSCALE HAS FILED FOR CARDANO ETF WITH NYSE BULLISH FOR $ADA 🚀 pic.twitter.com/BLWLHT9nKP — Ash Crypto (@Ashcryptoreal) February 11, 2025 Cardano’s Response to the ETF Filing The suggested ETF proposal has initiated a significant dialogue among participants in the Cardano community. Cardano’s founder, Charles Hoskinson, approved the news because it demonstrated the platform’s extended longevity and institution-friendly features. According to Hoskinson, the essential combination of proof-of-stake technology and advanced innovative contracts makes Cardano a prime opportunity for expanding financial adoption. – Advertisement – BREAKING NEWS: MICROSOFT IS COMING TO CARDANO, WILL CHARLES SIT WITH THEM ON MARCH 1ST?@IOHK_Charles reveals that @Microsoft may partner with the cardano ecosystem soon just a day after the ADA ETF was filed in by @Grayscale Are you hyped for 2025? pic.twitter.com/W69uKVzhU2 — Mintern (@MinswapIntern) February 11, 2025 Cardano’s development company, Input Output Global (IOG,) officially acknowledged the importance of the newly filed ETF. The company declared that institutional ETF recognition would speed up adoption and development throughout the ecosystem while generating advantages for projects based on the Cardano blockchain. SEC’s Stance on Altcoin ETFs The SEC has recently approved Bitcoin and Ethereum ETFs, yet it has shown caution toward altcoin-based ETFs. The SEC expresses…
Filed under: News - @ February 11, 2025 11:25 pm