Gray It submits an application for the world’s first place of the Cardano ETF in the United States. This step became official as a result of subordination of the 19B-4 form in the SEC, noting the ambitious impetus of Greyskal to expand institutional access beyond Bitcoin and Ethereum. This presentation is also the 60th use of the year Crypto ETF, which reflects the rapidly developing evolution of cryptography in traditional finances.
Spring to Grayscale Cardano ETF: Milestone Move
Supplying ETF to the point cardano, Greyscale seeks to bring ADA directly to the US Spot ETF market for the first time. Form 19B-4 is an important step that acts as an official SEC request to change the rule that would allow ADA to be indicated for exchange. However, even if this obstacle is cleared, an effective application for registration S-1 is still required before trading can officially begin.
The price of ADA increased by 11% on the news ETF
The market did not lose time, responding to the news. ADA grew by almost 14% within 24 hours after the announcement, reaching $ 0.80 as of February 11. Although this is a strong rally, the ADA remains 76% lower than its record high level of $ 3.10 since September 2021. Nevertheless, the price movement signals the strong optimism of investors around the potential for Altcoin ETF to gain the main traction.
ADA/USDT 1 -day diagram – Bitget
Big Picture: A Wave of Crypto -Appes ETF
The Grayscale statement is not an isolated event – this is part of a much greater trend. Analyst Bloomberg ETF Eric Balchunas emphasized that this is approximately the 60s of the crypto -etf, which applies this year only this year, which emphasizes aggressive pace at which the assets management are involved in permission to receive regulatory authorities. This surge of applications occurs against the background of changing regulatory dynamics, especially with a developing SEC position on crypto -tf.
Cardano Forecast: What is next for crypto -etf?
According to Bloomberg analysts James Seyffart and Erica Balchunas, the chances also look promising for others Altcoin. They estimate the probability of approval by 90% on ETF Litecoin and 70% for Solana, both of which are waiting for 19B-4 documents. The final solutions are expected on October 2 for Litecoin and October 25 for SOLANA. In addition, the chances of approved ETF XRP and Dogecoin are 65% and 70%, respectively.
