NYSE Arca has filed for Grayscale to launch a standalone Cardano ETF product, marking a significant move in the crypto investment space. The filing, made on February 10, seeks to list and trade shares of the Grayscale Cardano Trust. If approved, it would be Grayscale's first investment product specifically for Cardano (ADA). The proposal names Coinbase Custody Trust Company as the custodian, with BNY Mellon Asset Servicing acting as administrator. The filing emphasizes that this new product will increase market competition and benefit investors. This move follows a series of recent attempts by Grayscale and other asset managers to launch various crypto ETF products, including filings for a spot Solana ETF. Notably, the SEC's response to these applications has varied, with some previously rejected. The interest in crypto ETFs has surged since the Trump administration, with several asset managers, including canary Capital and WisdomTree, also seeking to introduce similar products.

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