Grayscale has officially filed for a Cardano (ADA) spot exchange-traded fund (ETF) with the New York Stock Exchange (NYSE) Arca. If approved, this will be the first-ever spot Cardano ETF in the U.S. market. The filing comes as the Securities and Exchange Commission (SEC) continues to evaluate its stance on crypto ETFs, potentially increasing institutional investor interest in ADA.
Grayscale’s Cardano ETF Filing Explained
The digital asset management giant Grayscale has submitted a proposal to launch a Cardano ETF, aiming to expand its suite of crypto investment products. The 19b-4 form, submitted by NYSE Arca, details the ETF’s operational structure. Under this plan:
- Coinbase Custody Trust Company, LLC will serve as the custodian.
- BNY Mellon Asset Servicing will oversee operational management.
This move aligns with the SEC’s ongoing review of Grayscale’s Litecoin Trust ETF application. The regulatory decision on Litecoin ETF could set a precedent for the approval process of the Cardano ETF.
What Could the Cardano ETF Mean for Investors?
If Grayscale’s Cardano ETF receives SEC approval, investors will gain access to ADA through a regulated investment vehicle. This could drive a surge in institutional capital inflow, boosting overall market confidence in Cardano.
With major crypto investment firms like CoinShares actively integrating digital assets into traditional markets, the growing interest in ETFs signals increasing trust in cryptocurrency investments within the financial sector.

ADA Price Movement and Market Trends
The ETF filing coincides with an ongoing ADA price surge. Over the past 24 hours, ADA has climbed 9.1%, reaching $0.7547.
- Market capitalization: $26.56 billion
- 24-hour trading volume: $850.88 million
Investors are closely watching whether ADA can break the $0.75 resistance level. If the price sustains above this mark, a continued bullish trend could follow.
As developments unfold, Turkish NY Radio will provide timely updates on the regulatory progress and market impact of the Cardano ETF.