Cardano price increases 11% after Grayscale ETF filing, surpassing Bitcoin and Ethereum. Grayscale seeks to launch first Cardano ETF on NYSE.
The value of Cardano token surged by 11% after Grayscale Investments filed for the first exchange-traded fund (ETF) for Cardano on the US stock market, outpacing Bitcoin and Ethereum. Cardano price reached $0.80, still 36% below its December peak. Grayscale has applied to launch the first Cardano spot ETF on the New York Stock Exchange. This move comes after the success of Bitcoin and Ethereum ETFs in attracting billions of dollars in capital. Despite the absence of Cardano futures contracts on the Chicago Mercantile Exchange (CME), which is a prerequisite for spot ETF approval, the market showed a positive reaction.
