Grayscale isn’t a company that’s used to being left in the dust.

And naturally, they’re taking steps to keep it that way, having just filed for a spot Cardano ETF with the SEC through NYSE Arca.

If this one gets the green light, it’ll be the first time regular investors can jump into ADA without having to fumble with crypto wallets and private keys.

That’s kind of a bit deal for the Hoskinson diehards of the industry.

ADA Addicts Amazed

Grayscale is making a strategic play with this one, thinking bigger than just Bitcoin and Ethereum.

Those blue chips already have their ETFs, and Grayscale wants something new and hot to play with.

So they’ve lined up Coinbase Custody to handle the security, keeping those ADA coins safe and sound, and have tapped BNY Mellon to do all the behind-the-scenes work. 

It's a well-thought-out plan, and with Trump feeling some Valentine's Day love for the crypto industry, we might actually have a shot at seeing everyone’s favorite coin to hate snag its own ETF.

A Whale Of A Tale

The market's definitely buzzing on the news, with ADA jumping up about 15% to $0.80 after the announcement.

For those keeping score, that means it outperformed Bitcoin and Ethereum in the short term. 

Some big-time investors are already loading up on ADA on the back of the announcement, and this ETF could bring even more serious cash to the table. 

After seeing those Bitcoin ETFs pull in over $40 billion and Ethereum ETFs get $3.18 billion, folks are betting ADA could be next in line for a major boost on the backs of a filing.

Vindication And Voltaire

The ADA bulls are feeling pretty good about this one, naturally.

They’re pointing to the SEC's recent approvals and the growing interest in different types of crypto, with Solana and XRP ETFs possibly on the way.

All in all, it seems like the regulatory landscape is shifting in a fundamental way.

Even Charles Hoskinson, the famed Cardano co-founder, is talking up its technology – on X, Hoskinson stated, “When people ask why Cardano, this is why. We have the best community and the best entrepreneurs.

It's a harder road, but it will change the world. I'm proud of them all, and with Voltaire, they will make the finest government ever assembled by humanity.”

On the other hand, the SEC hasn't so far been a fan of ETFs that aren't Bitcoin or Ethereum… but hey, they weren’t exactly fans of those either, and that was under Gensler.  

Preparing Your Bags Accordingly 

This extends far beyond Cardano winning or losing – if this ETF gets the go-ahead, this could set off a waterfall of subsequent approvals for crypto ETFs in the United States. 

The next chapter of TradFi-meets-DeFi will be written in the next 45 days, which is precisely how long the SEC has to say something about this filing.

For an industry that’s so far had a love-hate relationship with Cardano, this will either be a period where the wider market gets to point and laugh, saying “I told you so” or ADA bulls get to gloat like never before. 

Regardless, it’ll be a fun month and a half while we wait.