Grayscale Investments has filed for a Cardano ETF with NYSE Arca, marking a significant step as it hopes to launch this product alongside its existing Bitcoin and Ethereum offerings. Cardano (ADA), currently the ninth-largest cryptocurrency by market cap, saw its price increase by 12% following the news of the filing. If approved, this ETF would be the first of its kind for Cardano in the U.S. and would add to Grayscale's growing roster of crypto ETFs, which already includes those for Bitcoin and Ethereum. The filing indicates that a significant amount of market information is accessible to protect investors and serve public interest. Grayscale has also filed to convert its other trusts, including those for Solana, XRP, and Dogecoin, into spot ETFs. As the market anticipates the outcome of these filings, optimism remains high among investors regarding future approvals.

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