As reported by Wu Blockchain, Grayscale has filed an S-1 registration with the SEC to launch a Cardano (ADA) ETF, following up on its previously submitted 19b-4 filing. Earlier this month, the Grayscale Cardano Trust ETF was added to Delaware’s official registration portal, a move that usually preceded S-1 filings in the past.
Cardanians, a Cardano-focused X community account, highlighted the latest development in a recent tweet.
According to Cardanians, the S-1 is the official registration that explains how the Cardano ETF would work.
The filing reveals the Cardano ETF’s planned ticker to be GADA on NYSE Arca. The custody would be handled by the Coinbase Custody platform, and it would track ADA’s price using the CoinDesk Cardano Index (ADX). Shares would be issued in blocks of 10,000 and may enable ADA staking for rewards in the future.
Countdown to SEC deadline begins
The SEC acknowledged NYSE Arca’s 19b-4 form for Grayscale’s spot Cardano ETF earlier this year; Cardanians added that with the S-1 and 19b-4 filings in, Grayscale seems prepared and likely counting on SEC approval.
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The SEC’s decision on the Cardano exchange-traded fund (ETF) is expected in late October 2025, with Oct. 26 hinted at as a likely date.
The Cardano community has begun a countdown to the SEC’s deadline, which might either approve or deny the Grayscale Cardano ETF, potentially placing ADA in a vehicle preferred by professional investors and advisors. As reported, the current approval odds for the Cardano ETF are at 87% on Polymarket while Bloomberg analysts estimate 75%.
ADA currently ranks as the 10th largest cryptocurrency with a market capitalization of $29.78 billion and trades at $0.833.