Greiscale’s Cardano ETF proposal officially acknowledged SEK

The appearance of NISE ARCA for the Spot Fund Cardano Exchange Fund was recognized by the Securities Commission and the exchange of HART.

Toward 24. February notice The regulator formally recognized the proposal to lists and trade stores Cardin’s Cardano Trust under Nise Arca Rule 8.201. This starts the audit process, where the SEC will eventually decide whether to approve or reject ETF.

From here, the 240-day window starts after the application is published in the Federal Registry, which usually happens within a few days of SEC.

Nise Arc initially submitted The proposal through the 19B-4 form earlier this month, marking 60. CRIPTO ETF Submission so far this year. The submission serves as a formal request for the change of rules, after which it must provide a statement on S-1 registration before trading begins.

If approved, Cardano Trust Griscale Cardano will provide exposure to investors Cardano (ADA), without having to hold the property directly. Instead, investors would buy trust actions, and the price is related to the index that accompanies Ada’s value in the main exchange like Kointa, Kraken, Cripto.com and Bitfinek.

It is interesting that despite the bitfine does not hold any American license, it is still included in the index because he met liquidity requirements.

The detention detention company for coinbase would be submitted with the preservation of the Fund’s assets, while BNI Mellon would serve as a means of transmission and administrator.

Ada failed to react to the latest development and reduced over 8% when it was written. In contrast, when Greiscale initially filed 19B-4, Allcoin recorded 11%.

Meanwhile, the chances of SEC approval Cardano ETF in 2025. years increased by over 10% in the previous day at Polimarket, currently reflects 65% chance of approval.

With a cripto-friendry leadership within the SEK, the industry hopes that the Commission will be more open to approving digital investment products.

This recognition of Griscale’s Kardano ETF is the latest in a series of similar moves in last weeks. In February alone, the Commission formally recognized several crypto-ETF submissions through a series of funds.

Just a few days ago, Sex recognized 19B-4 Submission of 21Shares via CBOE BZX Exchange, aimed at allowed to commit Etherem within its ETF. If approved, this would mark the first instance of the Etherum ETF that offers a reward for American investors.

Applications for Litecoin (LTC) and XRP Spot ETFS from Coinshares They are also officially recognized, in parallel Greiscale’s suggestion For Spot XRP and Dogecoin ETF.

Greiscale also Revised his application for the Solana (Salt) Spot ETF, which is recognized to SEK 6. February.