Grayscale Investments aims to launch a Cardano exchange-traded fund on the New York Stock Exchange, according to a document posted to the NYSE website. NYSE Arca submitted the 19b-4 form for a proposed rule change Monday on behalf of the issuer.

Cardano (ADA), the ninth-largest cryptocurrency by market capitalization, has jumped 12% on the day to $0.748 on news of the Cardano ETF filing, according to CoinGecko. It’s the largest gainer over the last day among the top 10 coins by market cap.

If approved, Grayscale’s Cardano ETF would be the first exchange-traded product for the blockchain, and would join Grayscale’s lineup of crypto ETFs, which includes the Grayscale Bitcoin Trust ETF, Bitcoin Mini Trust ETF, Ethereum Trust ETF, and Ethereum Mini ETF.

“The proposed rule change is designed to promote just and equitable principles of trade and to protect investors and the public interest in that there is a considerable amount of ADA price and market information available on public websites and through professional and subscription services,” Grayscale said in the Cardano ETF filing.

Grayscale currently offers over 20 crypto-rela

Go to Source to See Full Article
Author: Jason Nelson

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details