SEC to Review Grayscale Cardano ETF Proposal: Institutional Exposure on the Horizon

The U.S. Securities and Exchange Commission (SEC) has formally acknowledged NYSE Arca’s proposal to list the Grayscale Cardano Trust as a spot-based exchange-traded fund (ETF). This significant step begins a review process that could potentially mark a historical moment for ADA’s entry into traditional finance. The SEC’s acknowledgement signals growing regulatory openness towards crypto ETFs under the new leadership of Chair Mark Uyeda, with several similar filings for Ripple (XRP), Dogecoin (DOGE), and Hedera (HBAR) also undergoing review.