Grayscale Investments files S-1 forms with the SEC for Polkadot and Cardano ETFs, adding to the 92 pending crypto ETF applications. The trusts were incorporated in Delaware, with the Cardano ETF trading on NYSE Arca under GADA. Prediction markets show high approval odds for altcoin ETFs, with Solana and XRP leading.

Grayscale expands aggressively with five existing trusts converted into ETFs, including Dogecoin and XRP. The firm files for a Dogecoin ETF with ticker GDOG, competing with other similar products. Current crypto ETF applications include eight Solana and seven XRP proposals, driven by SEC feedback.

Grayscale’s ETF proposals acknowledge significant regulatory risks, with the Cardano filing warning of SEC security classification impacts on token value. The trusts operate through cash-only mechanisms, with valuation based on daily CoinDesk indices. Both funds offer staking capabilities pending undefined conditions.

Coinbase Custody Trust Company serves as custodian for both trusts, with BNY Mellon handling administration. Fee structures involve daily sponsor fees paid in tokens. 92 pending crypto ETF applications represent a 28% increase, with October deadlines looming. Regulatory developments favor broader approvals for crypto ETFs.

SEC’s approval of in-kind redemption for Bitcoin and Ethereum ETFs widens compliance pathways. Project Crypto aims to clarify digital asset classifications. Twenty-one Shares and Grayscale lead Ethereum staking ETF applications. XRP ETF amendments respond to SEC feedback, improving approval prospects.

Read more at Yahoo Finance: Grayscale Submits Polkadot and Cardano ETF Registration Forms to SEC