NYSE Arca submits Cardano ETF application on behalf of Grayscale

Odaily News NYSE Arca filed a Form 19b-4 on behalf of Grayscale on Monday to form the proposed Grayscale Cardano Trust. According to the filing, the custodian will be Coinbase Custody Trust Company, LLC and the administrator will be BNY Mellon Asset Servicing.
NYSE Arca stated in the filing that “the Exchange notes that the proposed rule change will facilitate the listing and trading of an additional class of exchange-traded products, and the first such product based on ADA, which will enhance competition among market participants, thereby benefiting investors and the market.” (The Block)