Cardano ETF by Grayscale, A Big Step Toward Wider Adoption?

Jakarta, Pintu News—The United States Securities and Exchange Commission (SEC) recently officially recognized NYSE Arca’s Cardano ETF filing.

This recognition begins the review process that will determine the future of this investment product. With the start of the 240-day review window, market participants and investors look forward to the upcoming decision.

Check out the full news below!

Submission and Review Process

NYSE Arca has submitted a proposal for a Cardano ETF via form 19b-4, which is a formal request for a rule change. Following this, NYSE Arca must obtain an S-1 registration statement before it can begin trading.

This process drew attention as it marked the 60th filing for a crypto ETF in just this year. The SEC’s recognition of these filings initiates a rigorous review period.

Over the next 240 days, the SEC will assess various aspects of the proposal before rendering a final decision. A few days after acknowledgment, the proposal is expected to be officially published in the Federal Register, starting the official countdown.

Read also: Dark February for Ethereum (ETH), Will it Record the Worst Decline?

Cardano ETF Structure and Benefits

According to Crypto.news, if approved, the Grayscale Cardano Trust will provide exposure to Cardano (ADA) without requiring investors to hold the asset directly. Investors will purchase shares of the trust, with prices tied to an index that tracks the value of ADA on major exchanges such as Coinbase, Kraken, Crypto.com, and Bitfinex.

Although Bitfinex is not licensed in the US, the exchange is still included in the index as it meets the liquidity requirements. Coinbase Custody Trust Company will be responsible for safely storing the fund’s assets, while BNY Mellon will act as transfer agent and administrator.

Read also: Memecoin up tens of percent, why did the crypto market skyrocket today (2/26/25)?

Market Reaction and Future Outlook

Interestingly, the price of ADA did not show any significant reaction to this acknowledgment and is even down more than 8% at the time of writing. This contrasts the market reaction when Grayscale first filed its form 19b-4, where the altcoin’s price jumped 11%.

According to Polymarket, the odds of Cardano ETF approval by the SEC in 2025 have increased by more than 10% in the past day, currently reflecting a 65% chance of approval. With crypto-supportive leadership at the SEC, many are optimistic that the commission will be more open to digital asset investment products.

Conclusion

The SEC’s recognition of Grayscale’s Cardano ETF filing marks an important step in the evolution of crypto investment products. With the increasing interest and adoption of cryptocurrencies, the SEC’s decision on this proposal will greatly influence future market dynamics and investor strategies.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. Grayscale’s Cardano ETF Proposal Officially Recognized by SEC. Accessed on February 26, 2025
• Featured Image: Bitcoinsensus