The SEC accepts Grayscale's application for a Cardano spot ETF

ChainCatcher news, the SEC has accepted the application for a spot ETF for Cardano (ADA) submitted by NYSE Arca on behalf of Grayscale. Previously, the SEC has accepted a large number of cryptocurrency ETFs, including Cboe's XRP ETF, Grayscale's spot XRP, and DOGE ETFs.

According to previous reports, NYSE Arca submitted a 19b-4 form on February 11 on behalf of Grayscale to establish the proposed Grayscale Cardano Trust. According to the documents, the custodian will be Coinbase Custody Trust Company, LLC, and the manager will be BNY Mellon Asset Servicing.