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Cardano ETF in the Works? Grayscale Pushes for SEC Approval

Grayscale has filed with the SEC to launch a spot Cardano ETF via NYSE Arca, a move that could pave the way for institutional adoption of ADA and further legitimize its role in the crypto investment landscape.

Author

Steven Walgenbach
February 11, 2025

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Breaking Crypto Stories

Here are the top stories today:

  • Cardano ETF Inches Closer: Grayscale Submits Filing to the SEC

  • Litecoin ETF Could Be Next After Bitcoin and Ethereum – SEC Decision Looms

  • Lost Bitcoin Mystery: 8,000 BTC Worth $768M Likely Gone for Good

  • Ethereum ETPs Surge with $793M Inflows, Outpacing Bitcoin

  • Is the Binance Token Listing Process Flawed? CZ Weighs In

Question of the Day

Will Test Token (TST) stay in the market for long?

Grayscale has filed with the SEC to launch a spot Cardano ETF via NYSE Arca, marking a major step toward institutional adoption of ADA in traditional markets.

  • Grayscale has filed with the SEC to launch a spot Cardano ETF via NYSE Arca, aiming to provide institutional and retail investors with regulated exposure to ADA without direct ownership.

  • The move aligns with a broader push for altcoin ETFs, as similar filings for Solana and XRP ETFs are also under SEC review, signaling growing institutional interest in crypto-based financial products.

  • Regulatory approval remains uncertain, but if the SEC greenlights the Grayscale Cardano ETF, it could pave the way for increased institutional adoption of ADA and further legitimize Cardano in traditional markets.

Bloomberg ETF analysts predict a 90% chance of SEC approval for a spot Litecoin ETF by the end of 2025, making it the most likely crypto ETF to gain regulatory approval.

  • Bloomberg analysts predict a 90% chance of SEC approval for a spot Litecoin ETF by the end of 2025, citing Litecoin’s proof-of-work structure and classification as a commodity as key advantages over Solana and XRP.

  • The SEC is expected to decide on multiple crypto ETFs, including Litecoin, Solana, XRP, and Dogecoin, between Oct. 2 and Oct. 18, 2025, with Litecoin seen as the frontrunner due to lower regulatory hurdles.

  • Growing institutional interest in crypto ETFs, combined with political shifts, has increased the likelihood of approvals, with fund issuers adopting a broad “spaghetti cannon” approach to test market demand.

The Newport landfill closure marks the end of James Howells' decade-long quest to recover a hard drive containing 8,000 lost Bitcoin, worth $768 million.

  • James Howells’ efforts to recover a hard drive containing 8,000 lost Bitcoin ($768M) come to an end as the Newport landfill is set to close, making excavation impossible.

  • Newport City Council repeatedly rejected Howells' excavation proposals due to potential environmental risks, despite his assurances of using AI-powered and robotic search technology.

  • While 8,000 BTC is a significant amount, it is only a fraction of the estimated 3 million lost Bitcoin, reinforcing Bitcoin’s deflationary nature and sparking debates on future technological solutions for lost crypto.

Ethereum ETPs saw a record-breaking week, surpassing Bitcoin ETPs in inflows for the first time in 2025, with $793 million pouring in as ETH dipped below $2,700.

  • For the first time in 2025, Ethereum ETPs recorded $793 million in inflows, surpassing Bitcoin’s $407 million and signaling a shift in investor sentiment.

  • The surge in Ethereum ETP investments coincided with ETH dropping below $2,700, reflecting strong institutional interest in buying the dip.

  • Despite five consecutive weeks of inflows totaling $1.3 billion, crypto ETP assets under management (AUM) declined 4% due to a broader market correction.

Changpeng Zhao criticized the Binance token listing process, calling it flawed due to short notice periods that allow price surges on DEXs before CEX listings.

  • Former Binance CEO Changpeng Zhao called the exchange’s token listing process “broken,” arguing that short notice periods lead to price surges on DEXs before centralized exchange (CEX) listings.

  • The brief announcement-to-listing window allows traders to buy tokens early on decentralized exchanges, driving prices up before selling off once listed on Binance, impacting investor sentiment.

  • Zhao suggested that CEXs should consider automated token listings similar to DEXs, sparking a broader debate on whether fair launch mechanisms could replace traditional centralized exchange listings.

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