NYSE representative Grayscale submits Cardano spot ETF application to US SEC

According to Foresight News, NYSE Arca, a subsidiary of NYSE Group, has submitted an application to the US SEC on behalf of Grayscale, a cryptocurrency asset management company, to launch the Cardano spot ETF. If approved, the product will become Grayscale's first independent Cardano investment product. According to the document, Coinbase Custody Trust Company will become the custodian of the assets, and BNY Mellon Asset Serving will serve as the administrator.