Overview

• The application was filed in February by NYSE Arca and has since been amended and opened for public comment.
• By Oct. 26, the SEC must either approve, deny, or begin formal disapproval proceedings on the proposed listing.
• Similar extensions set October deadlines for Canary’s PENGU spot ETF and WisdomTree’s XRP ETF, indicating coordinated review windows.
• The proposed Cardano fund would allow brokerage clients to gain ADA exposure without directly holding the token.
• The SEC says additional time is required to assess custody, surveillance and related market-structure issues, continuing its cautious approach to crypto ETFs.