Attention crypto enthusiasts and lazy investors! π£ Grayscale is at it again, pushing for a Cardano ETF after XRP and Solana. This time, they’ve submitted a 19b-4 form through the NYSE Arca. If approved, this would be the first standalone ADA investment product in the U.S. ETF market.
Grayscale is no stranger to the crypto game, with over 20 crypto-related investment products under their belt. They’ve successfully transformed the Bitcoin Trust into an ETF, and now they’re trying their luck with Solana, Ripple, and Dogecoin. But will the SEC play ball? πΎ
The SEC has previously called Cardano, XRP, and Solana unregistered securities, which might make it tougher to get the ETF approved. But hey, maybe the SEC will have a change of heart! π€ Bloomberg analysts are optimistic, giving Cardano a 65% chance of approval. Not too shabby!
In the meantime, ADA’s price is having a field day, up almost 10% after the filing news. And institutional investors are eagerly waiting for more secure ways to get in on the crypto action. A spot Cardano ETF would let investors gain ADA exposure without holding it directly. Sounds like a win-win!
So, will the SEC give Cardano’s ETF the green light? Only time will tell. But one thing’s for sure: the future of digital asset ETFs in the U.S. is looking more exciting than ever! π
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2025-02-12 23:26