Grayscale Files for First Spot Cardano ETF, Driving ADA Price Surge

The proposed ETF would be the first U.S.-listed investment vehicle for Cardano, signaling growing optimism for altcoin ETFs under the Trump administration's crypto-friendly SEC.

Grayscale Investments has applied to list the first-ever spot Cardano ETF on the New York Stock Exchange, marking its first standalone ADA product.
Cardano's ADA token surged over 11% following the announcement, outperforming Bitcoin and Ethereum in daily gains.
Spot crypto ETFs, which directly hold the underlying asset, have previously driven significant market interest for Bitcoin and Ethereum.
Analysts predict a high likelihood of additional altcoin ETFs, including Litecoin, Dogecoin, Solana, and XRP, gaining approval in the coming months.
The SEC's perceived shift toward a more crypto-friendly stance under the Trump administration has encouraged firms to pursue ambitious ETF filings.