NYSE Arca, a subsidiary of the New York Stock Exchange, has taken a big step for cryptocurrency investments by filing a proposal with the U.S. Securities and Exchange Commission (SEC) to launch a spot exchange-traded fund (ETF) for Cardano (ADA).

NYSE Arca filed a 19b-4 form with the SEC to list a Grayscale Cardano Trust, marking a significant step toward the first US spot Cardano ETF.

NYSE Arca, a subsidiary of the NYSE Group, has filed on behalf of crypto asset manager Grayscale to launch a spot Cardano exchange-traded fund (ETF). In a Feb. 10 proposed rule change filing to the SEC,

NYSE Arca has filed for a Cardano ETF on behalf of Grayscale, which already operates Bitcoin and Ethereum funds—and hopes to launch more.

Grayscale filed paperwork with the New York Stock Exchange (NYSE) for a spot Cardano ETF, the first-ever ADA-based product that could hit US markets. The filing lands as Grayscale continues expanding its crypto offerings,