Grayscale Moves Toward Spot Cardano and Hedera ETFs with New
4Cardano
Grayscale
HEDERA
Analysts see the move as part of a broader push into altcoin ETFs, spurred by Bitcoin and Ether fund success and recent SEC support for similar products.
Crypto Reporter
Shalini Nagarajan
Crypto Reporter
Shalini Nagarajan
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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.
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Grayscale Investments has registered two new statutory trusts in Delaware for Cardano and Hedera, signaling it may be preparing to launch spot exchange-traded funds for both assets.
The filings, dated Aug. 12, list the entities as the Grayscale Cardano Trust ETF and the Grayscale Hedera Trust ETF, both organized as general statutory trusts.
The registrations appear on Delaware’s official corporate records portal and follow a pattern the asset manager has used before when preparing for ETF launches. Similar filings have often preceded S-1 submissions to the US SEC, a required step before a fund can begin trading.
Earlier this year, the SEC acknowledged NYSE Arca’s 19b-4 form for Grayscale’s proposed spot Cardano ETF and Nasdaq’s form for a Hedera ETF. Those acknowledgments marked the first stage in the regulatory review process.
Cardano and Hedera Trusts Mark Next Phase of Grayscale’s ETF Strategy.
These new...
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