Grayscale Files With SEC For Polkadot And Cardano Etfs, Expanding Beyond Bitcoin And Ether

2025-08-30 12:00:23

(MENAFN- Yolo Wire) %Grayscale Investments has moved to expand its lineup of single-asset crypto funds, filing S-1 registration statements with the U.S. Securities and Exchange Commission (SEC) for exchange-traded funds tied to %Polkadot (CRYPTO: $DOT) and %Cardano (CRYPTO: $ADA). The submissions, made on August 29, 2025, signal the firm's push to bring regulated access to a broader set of digital assets beyond Bitcoin (CRYPTO: $BTC) and Ether.

According to multiple reports summarizing the filings, each proposed ETF would hold its respective token directly rather than using leverage or derivatives, with Coinbase expected to act as custodian. The funds are positioned to track CoinDesk reference benchmarks for their underlying assets, aligning with index-based structures favored by earlier spot crypto ETFs.

Grayscale's Cardano product is described in coverage as aiming for a listing on NYSE Arca under the proposed ticker "GADA," while the Polkadot fund is reported to target a listing under "DOT" (Nasdaq), though final ticker assignments and exchange venues remain subject to SEC review and market-operator approval. These specifics come from secondary reports summarizing the S-1s; official details could evolve during the comment period.

The filings arrive amid a shifting U.S. regulatory environment that has recently seen approvals for non-Bitcoin/Ether crypto ETFs and conversions of broader crypto funds into ETF formats, stoking issuer competition to offer access to additional blockchains. While the SEC has historically scrutinized market manipulation risks and custodial controls for altcoin products, Grayscale's move suggests growing confidence that frameworks used for earlier spot products can be adapted to assets like ADA and DOT. Any launch will still hinge on the SEC's review of the S-1s (disclosures) and corresponding exchange rule changes, if needed.

If approved, the Cardano and Polkadot ETFs would give traditional brokerage investors direct exposure to two prominent smart-contract platforms through regulated vehicles, potentially broadening participation and liquidity while bringing new transparency and reporting requirements to these markets.

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