| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107408.0200000000 |
| ETH | $2432.7070000000 |
| BNB | $648.0595900000 |
| XRP | $2.1833380000 |
| ADA | $0.5652583000 |
| SOL | $150.6274000000 |
| DOGE | $N/A |
| DOT | $3.4017000000 |
| LTC | $86.0774000000 |
| LINK | $13.3766900000 |
Category: CRYPTO NEWS
The post ADA outperforms Bitcoin as Grayscale seeks approval for first US Cardano ETF in SEC filing appeared on BitcoinEthereumNews.com. Grayscale has applied with the US Securities and Exchange Commission (SEC) to list a Cardano exchange-traded fund (ETF) on the New York Stock Exchange (NYSE), according to a Feb. 10 filing. This would mark the first US-listed ETF tied to ADA, providing regulated exposure to the digital asset. Following the news, ADA emerged as the best-performing top-10 digital asset in the past 24 hours, outperforming Bitcoin and Ethereum. Data from CryptoSlate shows that ADA surged by over 15% to $0.80 at press time. This price performance contrasts with a month-long downtrend that dragged its price under the $1 mark. ADA remains 74% below its all-time high of over $3. Cardano ETF Grayscale’s move signals a broader push to integrate ADA into mainstream investment products, aligning with the firm’s strategy of expanding its crypto-based ETF offerings. If approved, the Cardano ETF would join Grayscale’s extensive portfolio of over 20 crypto investment products, including Bitcoin and Ethereum ETFs. The firm also manages trusts for assets like Avalanche, Dogecoin, and Solana, with plans to convert some into spot ETFs. According to the filing, the proposed ETF aims to enhance market competition and offer investors more straightforward access to ADA without the complexities of direct ownership. Meanwhile, the application faces regulatory uncertainty despite its potential. The SEC previously classified ADA as a security in lawsuits against Coinbase—a stance the Cardano community has strongly contested. If the regulator maintains this classification, approval for the ETF could face significant obstacles. Other cryptocurrencies, including XRP, have encountered similar scrutiny, with analysts suggesting their ETF applications may struggle compared to assets like Litecoin. Regulatory clarity remains a key factor in determining whether ADA can secure a spot among SEC-approved crypto investment products. Nonetheless, the Cardano Foundation pointed out that the application shows increasing institutional interest in the network’s…
2025-02-11T09:45:09+00:00
https://bitcoinethereumnews.com/bitcoin/ada-outperforms-bitcoin-as-grayscale-seeks-approval-for-first-us-cardano-etf-in-sec-filing/?utm_source=rss&utm_medium=rss&utm_campaign=ada-outperforms-bitcoin-as-grayscale-seeks-approval-for-first-us-cardano-etf-in-sec-filing