{"id":12393,"date":"2025-02-11T06:46:53","date_gmt":"2025-02-11T06:46:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12393"},"modified":"2025-02-11T06:46:53","modified_gmt":"2025-02-11T06:46:53","slug":"ada-pumps-14-as-grayscale-files-for-spot-cardano-etf","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12393","title":{"rendered":"ADA Pumps 14% as Grayscale Files For Spot Cardano ETF"},"content":{"rendered":"<div>\n<p>On Feb. 10, crypto asset manager Grayscale officially filed for a Cardano exchange-traded fund with the New York Stock Exchange, expanding its push into regulated crypto investments.<\/p>\n<p>The firm has never previously offered a standalone investment vehicle for ADA despite making past moves to do so.<\/p>\n<p>Asset managers have been emboldened by President Donald Trump\u2019s embrace of crypto with ETF applications for altcoins, including XRP, Solana, and\u00a0<a href=\"https:\/\/cryptopotato.com\/litecoin-surges-17-as-wales-accumulate-on-spot-etf-hopes\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Litecoin,<\/a> in recent weeks from the likes of Canary Capital, WisdomTree, 21Shares, Bitwise, and VanEck.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Grayscale filed 19b-4 for a spot Cardano ETF. First one in US and ballpark 60th crypto ETF filed this year so far <a href=\"https:\/\/t.co\/alj7EjtfIS\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/alj7EjtfIS<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1889118413240312187?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">February 11, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Cardano ETF Inbound<\/h2>\n<p>Grayscale has filed to convert its existing SOL and XRP trusts into a spot ETF but the ADA fund would be a new product. On Jan. 30, NYSE Arca filed to convert Grayscale\u2019s XRP trust into a spot ETF, and on Feb. 6, it did the same for its SOL trust.<\/p>\n<p>According to the 19b-4 <a href=\"https:\/\/www.nyse.com\/publicdocs\/nyse\/markets\/nyse-arca\/rule-filings\/filings\/2025\/SR-NYSEArca-2025-12.pdf\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">filing<\/a>, the Trust will hold only ADA, with each share representing a proportional interest in the fund\u2019s holdings.\u00a0Coinbase Custody would be the custodian of the assets, and BNY Mellon Asset Servicing would serve as administrator.<\/p>\n<p>\u201cInstitutional interest in Cardano is heating up,\u201d <a href=\"https:\/\/twitter.com\/MarioNawfal\/status\/1889084575969607761\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">commented<\/a> IBC Group founder Mario Nawfal who added that the move comes just a week after Virtune AB launched a Cardano ETP on Nasdaq Helsinki.<\/p>\n<p>The Cardano native token has surged 14% on the day, with most of the gains coming in the past couple of hours after the news broke.<\/p>\n<p>ADA hit an intraday high of $0.8 but still <a href=\"https:\/\/cryptopotato.com\/cardano-price-analysis-can-ada-crash-below-0-7-this-week\/\" data-wpel-link=\"internal\">remains down<\/a> 17% over the past fortnight as altcoins have been battered recently. ADA hit a 2025 high of $1.16 on Jan. 18 but has been down-trending since.<\/p>\n<p>Nevertheless, analysts <a href=\"https:\/\/cryptopotato.com\/heres-why-cardano-ada-could-experience-a-monster-parabolic-rally-analyst\/\" data-wpel-link=\"internal\">remain hopeful<\/a> that ADA will continue its bullish momentum, which has seen the asset gain 140% over the past six months, especially if a spot ETF is approved in the US by the SEC.<\/p>\n<h2>Spot Crypto ETF Outlook<\/h2>\n<p>Spot Bitcoin ETFs in the United States have had a mixed month in February, which has seen $578 million in inflows and $561 million in outflows, <a href=\"https:\/\/farside.co.uk\/btc\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">according<\/a> to Farside Investors.<\/p>\n<p>Monday was another outflow day, with $186.4 million leaving the funds on aggregate. Fidelity\u2019s FBTC saw the largest outflow with $136 million, followed by Grayscale\u2019s GBTC, losing $46.3 million. BlackRock\u2019s IBIT saw $55.3 million in inflows, but it wasn\u2019t enough to turn the daily flow positive.<\/p>\n<p>Spot Ethereum ETFs have been positive, with just one outflow day so far in February, which was Monday. Feb. 10, when $22.5 million left the products.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/ada-pumps-14-as-grayscale-files-for-spot-cardano-etf\/\" rel=\"nofollow\">ADA Pumps 14% as Grayscale Files For Spot Cardano ETF<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On Feb. 10, crypto asset manager Grayscale officially filed for a Cardano exchange-traded fund with the New York Stock Exchange, expanding its push into regulated crypto investments. The firm has never previously offered a standalone investment vehicle for ADA despite making past moves to do so. Asset managers have been emboldened by President Donald Trump\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12393","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12393"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12393\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}