In a significant development that has drawn the eyes of both the crypto and traditional investment worlds, Grayscale has filed with the U.S. Securities and Exchange Commission for a new kind of investment product: a spot exchange-traded fund, or ETF, that would hold Cardano as a primary asset. With the ETF application, Grayscale now has 17 investment vehicle applications with the SEC, nine of which are for Bitcoin-related ETFs. Should it receive approval, this could pave the way for more conventional investors to access Cardano—offering a regulated entry point into the burgeoning decentralized finance (DeFi) sector. We break down the
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