- Grayscale has applied for its first standalone Cardano ETF through NYSE Arca.
- The SEC’s acceptance of a Solana ETF filing signals possible policy changes.
- Competition for crypto ETFs is increasing, with firms pushing for regulatory approval.
Grayscale has applied for a spot Cardano ETF through NYSE Arca. This will be its first standalone investment product for Cardano. The ETF aims to improve market competition and attract more investors.
Grayscale Expands Crypto ETF Offerings
Grayscale has filed several ETF applications in recent weeks. On February 6, the SEC accepted an amended filing for a Solana ETF. Bloomberg analyst James Seyffart called this a major step for crypto regulation.
The SEC had rejected previous requests for a Solana ETF. The approval of this filing signals a possible policy shift. Investors are hopeful for more crypto ETFs in the future.
Institutional Partners and ETF Structure
If approved, Coinbase Custody Trust Company will secure the Cardano ETF’s assets. BNY Mellon Asset Servicing will manage administrative operations. These trusted firms ensure a safe and regulated investment structure.
NYSE Arca believes the ETF will expand Cardano’s market presence. The exchange expects increased investor participation in ADA-based products. This ETF could attract institutional investors to Cardano.
Crypto ETF Competition Intensifies
More firms are filing for crypto ETFs. On January 30, NYSE Arca submitted a request to convert Grayscale’s XRP Trust into a spot ETF. The SEC has yet to make a decision on the application.
On February 6, Cboe BZX Exchange filed for spot XRP ETFs on behalf of four asset managers. These firms include Canary Capital, WisdomTree, 21Shares, and Bitwise. The competition for crypto ETFs continues to grow.
The push for crypto ETFs has gained momentum. Several asset managers have applied for Solana ETFs in recent months. VanEck and Canary Capital are among the firms seeking regulatory approval.
Experts believe the SEC may approve more crypto ETFs soon. Institutional demand for digital assets continues to increase. Investors are closely watching the regulatory process.
