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Grayscale sign up ETF Cardano (ADA) and Hedera (HBAR) in America
The official registration portal of the state of Delaware has just added Grayscale Cardano Trust ETF and Grayscale Hedera Trust ETF to the list of legal entities. In the past, similar registration moves often occurred before filing S-1 forms with the Securities and Exchange Commission of America (SEC).
Earlier, the SEC accepted the 19b-4 filing from NYSE Arca for the spot Cardano ETF and the filing from Nasdaq for the Hedera ETF. This is the first time Grayscale has registered an altcoin ETF fund on the Delaware portal, alongside existing altcoin trusts such as Dogecoin, Filecoin, Avalanche, and Bittensor.
On the same day, Grayscale also launched two new trust funds providing access to the DeepBook and Walrus tokens of the Sui ecosystem.
The altcoin ETF trend is accelerating as American fund managers are encouraged by legal developments, including the SEC approving a mechanism for spot ETF conversion for Bitcoin and Ethereum, along with the "Project Crypto" initiative in collaboration with the CFTC to clearly classify which digital assets are securities and which are not.