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NYSE Arca has made a significant move by submitting a proposal to the SEC for listing shares of the Grayscale Cardano Trust under the ticker GADA which is now under regulatory review expected to be completed by August 2025. This filing aims to pioneer the integration of ADA-based products in the mainstream financial markets setting a possible precedent for future crypto assets.
The trust’s strategy is simple yet robust aiming to mirror the performance of its ADA holdings based on the CoinDesk Cardano Price Index minus operational fees. Daily valuations of the net asset value will be calculated every day at 4:00 PM NY time using data from top crypto exchanges like Coinbase and Kraken ensuring transparency and accuracy in pricing.
As part of its review process the SEC will allow a public comment period ensuring that all stakeholders can voice their opinions. This step is crucial as it ensures that the proposal meets stringent criteria related to investor protection and market integrity. A final decision by the SEC will shape the future of cryptocurrency investments signaling a new era of regulatory acceptance for digital assets.
