SEC Finally Acknowledges Grayscale’s Cardano ETF—Is This Real Life?

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So, the U.S. Securities and Exchange Commission (SEC) has finally decided to acknowledge Grayscale’s filing for a spot Cardano (ADA) ETF. I mean, what took them so long? Did they lose the paperwork in a pile of other boring stuff? This is just the start of their review process, which, let’s be honest, could take longer than a dentist appointment. Will it actually get listed and traded on the New York Stock Exchange (NYSE) Arca? Who knows? Maybe they’ll just forget about it again.

Grayscale’s Spot Cardano ETF Filing Acknowledged

According to some recent filing—because, of course, everything is a “filing” these days—the SEC has acknowledged Grayscale’s application to list and trade its Cardano ETF on NYSE Arca. This ETF is supposed to give investors some “regulated exposure” to Cardano (ADA). Regulated? Sounds fancy, but it’s still crypto, folks. It’s like saying a rollercoaster is safe because it has a seatbelt.

Grayscale wants to offer shares that represent proportional interests in the ADA holdings of its proposed Grayscale Cardano Trust. Sounds great, right? But let’s be real, it’s just a fancy way of saying, “Hey, you can own a piece of this digital coin that might go to the moon or crash harder than my last relationship.”

They’re also trying to expand their cryptocurrency ETF offerings. Besides Cardano, they’re eyeing other digital assets like Solana (SOL), XRP, and Litecoin (LTC). It’s like a buffet of digital coins—pick your poison! Just don’t blame me if you end up with a plate full of regret.

This whole thing is happening while crypto regulations are easing up, and cases against companies like Coinbase and Robinhood are dropping faster than my enthusiasm for small talk. Thanks to the new leadership under acting US SEC chair Mark Uyeda, it seems like they’re finally getting their act together. Or maybe they just want to look busy.

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2025-02-25 01:54