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Grayscale Investments has officially registered the “Grayscale Cardano Trust ETF” in Delaware, marking a significant step toward bringing a spot Cardano ETF to market.
The filing, made on August 12, 2025, reflects Grayscale’s established strategy, forming Delaware trusts before submitting formal applications to the U.S. SEC.
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This move comes as the SEC is already reviewing NYSE Arca’s 19b-4 filing for a spot Cardano ETF, with analysts estimating a 75% chance of approval by late August. If approved, the ETF would give institutional and retail investors an easier way to gain ADA exposure without the technical issues of crypto custody.
Grayscale’s expansion into altcoin ETFs, beyond its flagship Bitcoin and Ethereum products,
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