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Big News: Grayscale Files for Cardano Spot ETF, ADA Gains 10%
Grayscale Investments has made a groundbreaking announcement by filing to launch a Cardano exchange-traded fund (ETF) on the New York Stock Exchange. This significant move is expected to have a substantial impact on the cryptocurrency market, particularly on the price of Cardano’s native asset, ADA.
The proposed ETF seeks to list and trade shares of the Grayscale Cardano Trust, marking a major milestone for the ADA community. This development positions Grayscale among other prominent asset managers racing to launch crypto ETFs, and it also represents the first time Grayscale has offered a standalone product dedicated exclusively to Cardano, separate from its larger funds.
The new trust would provide both retail and institutional investors with a more direct and cost-effective way to invest in Cardano without the complexities of acquiring and securing ADA themselves.
Source: coinpedia.org
