- Grayscale has submitted a 19b-4 filing to the SEC for a spot Cardano ETF in the past day.
- Analysts expect the US ETF to witness a huge boom in 2025.
The US ETF market has once again sprung up with activity this week. While already launched spot ETFs continue to perform fairly well, they have recently triggered interest among institutional investors. On the other hand, the overall crypto market is still recovering from its most recent market crash.
Notably, in the last 24 hours, prominent US-based ETF issuer Grayscale shared a document of a 19b-4 filing. This document was the firm’s application to the SEC for listing and trading shares of the Grayscale Cardano Trust as the Spot Cardano ETF. The firm is one of the first to file for a Cardano ETF.
Moreover, Grayscale has also filed the application in compliance with the NYSE guidelines, thus maneuvering ways for mainstream adoption. The past month has seen several issuers filing for altcoin spot ETFs after the success of the spot Bitcoin and ETH ETFs.
Meanwhile, the SEC has been expanding allowances to existing ETFs. For instance, recent news of the US regulator amending Ark 21Shares Bitcoin ETF and 21Shares Core Ethereum ETF. The recent correction grants permits to the ETFs for “creations and redemptions of any kind.”
Will Grayscale Receive Approval from the SEC for its ETF?
In the past few weeks, as prominent ETF analysts have discussed, there has been a boom in the ETF market. While several reasons might have played out, the SEC’s change in administration still seems to stand out. As a result, it could be highly likely that the new administration would approve Grayscale’s filing.
Behold, my 2025 ETF predictions…
— Nate Geraci (@NateGeraci) January 8, 2025
1) Either VOO, IVV, or Both Will Chop Fees
2) The Year of Crypto ETFs
3) Private Credit ETFs Will Have to Wait
4) 351 Exchanges Go Mainstream
5) A Leveraged Single Stock ETF Implodeshttps://t.co/uDj1OCkaVQ pic.twitter.com/0yoD79xQfS
Thirdly, the market also saw the initiation of a Litecoin ETF filing. This indicates the altcoin ETFs sector is drawing much attention from investors. Community members are eagerly waiting for these ETFs to make their debut in the market.
Previously, during the last administration, multiple issuers filed for a Solana ETF, which was rejected. However, analysts such as Nate Garcia have predicted that this year will be a crucial time for ETFs.
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