SEC Acknowledges Grayscale’s Cardano ETF Application: A Look at Potential Impact

The U.S. Securities and Exchange Commission (SEC) has acknowledged Grayscale’s application for a spot Cardano (ADA) exchange-traded fund (ETF). This move signifies an important step towards increased crypto investment opportunities. Grayscale, a prominent digital asset management firm, submitted its request to the New York Stock Exchange on February 10, 2025. The SEC’s acknowledgment initiates a review process that could last up to 240 days, with the approval of Grayscale’s application likely to increase optimism about Cardano ETF approval.