SEC Weighs Listing Grayscale Cardano Trust on NYSE Arca
Published Date: 6/3/2025
Notice
Summary
The SEC is deciding whether to approve NYSE Arca’s plan to let people buy and sell shares of the Grayscale Cardano Trust (ADA), a crypto-based investment. This affects investors interested in Cardano and could open new ways to trade this digital asset on a big stock exchange. The SEC’s decision deadline is May 29, 2025, which could impact how soon these shares hit the market and potentially influence investment money flow.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 0 costs, 2 mixed.
SEC Reviewing Listing of ADA Trust Shares
The SEC has instituted proceedings to decide whether NYSE Arca can list and trade shares of the Grayscale Cardano Trust (ADA). The Exchange filed the proposal on February 10, 2025 and Amendment No. 2 on February 20, 2025, and the Commission designated May 29, 2025 as the date by which it must approve, disapprove, or institute proceedings to disapprove the proposal.
Trust Structure: ADA Holdings and Share Mechanics
The proposed Grayscale Cardano Trust would hold only ADA and seek to have each share reflect the U.S. dollar value of ADA per the CoinDesk Cardano Price Index (calculated at 4:00 p.m. New York time each business day), minus the Trust's expenses and liabilities. The Trust would create and redeem shares in cash with authorized participants in one or more blocks of 10,000 shares.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Take It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in