Key Takeaways
- The SEC acknowledged Grayscale’s submitting for a Cardano Belief (ADA) ETF on NYSE Arca.
- A closing decision on the Grayscale Cardano ETF is anticipated by August 2025.
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At present, the SEC acknowledged a proposed rule change filing by NYSE Arca to listing and commerce shares of the Grayscale Cardano Belief (ADA), initiating a regulatory evaluate course of anticipated to conclude by August 2025.
NYSE Arca submitted the initial filing on February 10, 2025, adopted by Modification No. 2 on February 20, 2025, which outmoded all earlier variations.
The proposal seeks to listing the belief’s shares below the ticker image GADA.
The belief goals to mirror the worth of its ADA holdings, utilizing the CoinDesk Cardano Value Index (ADX) for worth dedication, minus charges and bills.
Web Asset Worth calculations will happen each day at 4:00 p.m. New York time, primarily based on worth knowledge aggregated from a number of buying and selling platforms together with Coinbase, Crypto.com, Bitfinex, and Kraken.
Coinbase Custody will safe the belief’s ADA holdings by multi-layer safety measures, together with geographically distributed personal key storage in safe vaults and encryption strategies.
The belief won’t actively handle its holdings or try to mitigate worth fluctuations.
The regulatory evaluate course of features a public remark interval lasting 21 to 30 days, adopted by continued SEC analysis of the proposal’s compliance with investor safety, market integrity, and fraud prevention necessities.
The SEC should attain a closing decision inside 180 days of the submitting date.
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