The Securities and Exchange Commission (SEC) officially recognized the proposal of Nyse Arca aimed at registering and negotiating a negotiated fund (ETF) fund in cash based on cardano (ADA) on behalf of the Grayscale crypto asset manager. This recognition, which took place on February 24, 2025, marks the start of the regulatory process during which the SEC will assess the proposal and will make a decision on its approval or rejection.
SEC takes a decisive step towards the Cardano ETF
The initial proposal of Nyse Arca, filed on February 10, 2025, aims to list and negotiate shares of the Grayscale Cardano Trust on the Stock Exchange. If it is approved, this product will allow investors to obtain an exhibition at the price of the cardano without having to directly hold the crypto. The ETF will follow the ADA price based on an index that monitors prices daily on exchange platforms such as Coinbase, Crypto.com, Bitfinex and Kraken.
It is important to note that SECRIBITY RECOGN From the 19B-4 deposit of the proposal does not constitute an approval! But rather the beginning of a regulatory examination process which will determine whether the ETF meets the standards required to be on the market. Will it be? In this proposed structure, investors will not directly hold Cardano, but parts of the trust, thus offering a more practical and potentially more secure way to access this crypto.
Even more investment options on the market
This initiative is part of a series of similar deposits on the part of Grayscale, which recently submitted proposals for ETFs in cash based on other crypto, including XRP and Dogecoin. These approaches reflect an increasing interest in regulated investment products offering exposure to digital assets.
The outcome of these proposals will depend on the in -depth examination of the SEC, which will assess various factors, including regulatory compliance and the protection of investors. If these ETFs are emerging, they could expand investment options for institutional and individual actors, while contributing to the wider adoption of Cardano in traditional portfolios.
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