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International Business Times
International Business Times
Business
Marvie Basilan

NYSE Arca Files 19b-4 For Grayscale's Cardano ETF; $ADA Surges, Outperforms $BTC, Other Altcoins

Cardano Grayscale ADA ETF altcoin Bitcoin Crypto Eric Balchunas SEC
$ADA jumped Monday night after NYSE Arca filed a 19b-4 on behalf of Grayscale. (Credit: IBTimes US)

KEY POINTS

  • $ADA increased over 11% Monday night after news of the filing spread on X
  • NYSE Arca highlighted some of the Cardano network's top features on its filing
  • Grayscale is on track to becoming the first issuer of a Cardano ETF in the U.S.

NYSE Arca, a subsidiary of the New York Stock Exchange, on Monday filed a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) on behalf of Grayscale for the asset manager's proposed spot Cardano (ADA) exchange-traded fund (ETF), the Grayscale Cardano Trust.

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