Grayscale Files to List First Standalone Cardano ETF on NYSE

Grayscale has filed to list a Cardano (ADA) exchange-traded fund (ETF) on the New York Stock Exchange. This marks the first standalone ADA investment vehicle from Grayscale, which previously attempted to launch one.

Key points:

• Grayscale's filing reflects a shift in the SEC's approach under recent leadership.
• The firm has also filed for ETFs related to Solana and XRP, converting existing trust products into ETFs.
• ADA's market cap is approximately $25 billion, with a recent price increase of 1.5% to $0.71.
• There is growing belief that altcoin ETFs may soon gain approval from the SEC.

No further comments were provided by Grayscale at this time.