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Seeds of Wisdom
GRAYSCALE FILES FOR CARDANO ($ADA) SPOT ETF WITH NYSE ARCA
The Feb. 10 SEC filing proposes listing and trading shares of the Grayscale Cardano Trust, making it the first standalone ADA investment product in the U.S.
Grayscale Investments has officially filed for a Cardano ($ADA) exchange-traded fund (ETF) with NYSE Arca, marking a significant step toward institutional adoption of the blockchain’s native asset.
The filing, submitted as a proposed rule change (Form 19b-4) to the U.S. Securities and Exchange Commission (SEC) on February 10, seeks approval to list and trade shares of the Grayscale Cardano Trust as a spot ETF.
If approved, this would be Grayscale’s first standalone Cardano investment product and the first spot ADA ETF in the U.S. market.
Institutional Partners and Market Reaction
According to the filing, the Coinbase Custody Trust Company would serve as the custodian for the ETF’s assets, while BNY Mellon Asset Servicing would act as its administrator. The Delaware Trust Company has been named as the trustee.
A Cardano ETF would allow institutional and retail investors to gain regulated exposure to ADA without directly purchasing or storing the cryptocurrency. It would also add credibility to Cardano as an investment asset and open the door for broader adoption in traditional finance.
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Grayscale is already a major player in the crypto ETF market, managing products like the Grayscale Bitcoin Trust ETF and Grayscale Ethereum Trust ETF. Adding Cardano to its lineup would further diversify its offerings and provide investors with more blockchain-based investment options.
Regulatory Hurdles and Market Landscape
So far, the SEC has only approved spot ETFs for Bitcoin and Ethereum. Other cryptocurrencies, including Solana (SOL) and XRP, have faced delays due to regulatory uncertainty. The SEC previously classified ADA as a security in its 2023 lawsuits against Binance and Coinbase, which could pose additional challenges for approval.
Despite these hurdles, interest in crypto ETFs continues to grow. Recent filings for XRP, Solana, Dogecoin, and Litecoin ETFs suggest that more assets could soon enter the regulated investment space.
Cardano Joins the Growing ETF Race
Grayscale’s move follows a wave of crypto ETF applications in recent months:
XRP Spot ETFs:
- WisdomTree, Bitwise, 21Shares, and Canary Capital submitted four 19b-4 applications to the SEC.
- Bitwise filed an initial spot XRP ETF application in October 2024.
- WisdomTree launched the Physical XRP ETP (XRPW) in Europe.
Cardano Exchange-Traded Products (ETPs):
- Virtune AB launched a Cardano ETP on Nasdaq Helsinki in February 2025.
- Tuttle Capital filed for a 2x leveraged ADA ETF in January 2025.
- Worth noting, Grayscale is also working to convert its XRP Trust into an ETF.
@ Newshounds News™
Source: BSC News
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BRICS: RUSSIA AND INDIA CUT DOLLAR USE: 90% OF DIRECT TRANSACTIONS IN NATIONAL CURRENCIES
Russia and India now conduct nearly 90% of direct transactions in their national currencies, deepening financial ties and accelerating the global shift away from the U.S. dollar.
Moscow and New Delhi Tighten Financial Ties—Is the Dollar Era Ending?
Countries worldwide are increasingly shifting away from reliance on the U.S. dollar in international trade, a process known as dedollarization. Russia and India have strengthened their financial cooperation, with nearly 90% of direct transactions now conducted in their respective national currencies.
Russian Ambassador to India Denis Alipov stated in an interview with Tass:
Mutual payments in national currencies are stable. As of today, national currencies account for around 90% of direct payments between Russia and India.
He also noted that discussions are ongoing about the mutual recognition of Russia’s Mir and India’s RuPay payment systems, a step that could further enhance financial integration between the two countries.
Trade between Russia and India has continued to expand, with Indian statistics showing an 8.6% increase in the first 11 months of 2024. “According to Indian statistics, bilateral trade added 8.6% in 11M 2024 and amounted to $64.5 bln,” Alipov said.
He further detailed the contributions from each country, emphasizing: “Russian exports reached $60 bln (up by 7.7%), while supplies of Indian goods rose to $4.5 bln (up by 23.3%).
Russia is one of India’s four biggest trade partners, while in terms of the volume of products supplied it is the second-largest after China.” These figures highlight Russia’s growing importance as a key trading partner for India.
The increasing use of national currencies in trade between Russia and India reflects a broader global shift toward reducing dependence on the dollar amid evolving geopolitical and economic conditions.
As both countries work to integrate their financial systems, the potential recognition of the Mir and Rupay payment networks could simplify trade settlements and further strengthen economic ties between Moscow and New Delhi. With Russia securing its position as India’s second-largest supplier after China, these developments signal deeper financial and trade cooperation between the two nations.
@ Newshound News™
Source: Bitcoin News
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Source: Dinar Recaps
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JUST IN: JEROME POWELL AGREES TO WORK WITH LAWMAKERS TO ADDRESS CRYPTO DEBANKING
In a bold move, Federal Reserve Chair Jerome Powell has called for a “fresh look” at debanking, following criticism that the crypto industry is being denied access to banking services.
Powell Agrees to Help End Crypto Debanking
During a Senate Banking Committee hearing on Tuesday, Tim Scott, the committee’s Chair, asked Jerome Powell if he would work together to ensure that financial regulations are fair and don’t impose unnecessary burdens, to which Powell agreed to collaborate with Tim Scott, stating that the Federal Reserve aims to avoid unnecessary burdens. Powell said that he is “struck” by the increasing number of Bitcoin and crypto firms being debanked.
He also emhasized that it’s important to re-evaluate the issue of debanking. “We don’t intentionally do these things, but sometimes regulation leads things to happen and we need to be working on that,” Powell added. Scott also asked Powell if he would commit to collaborating with lawmakers to end debanking, to which Powell agreed, saying “yes.”
Crypto debanking is once again a hot topic in Washington, with lawmakers holding hearings and launching investigations into the issue. Last week, both the House and Senate held two hearings to address the concern.
Fed Not In A Hurry To Cut Rates
Furthermore, Powell has emphasized that the US central bank is “in no hurry” to reduce interest rates, despite pressure from Donald Trump to lower borrowing costs in the world’s largest economy.
“With our policy stance now significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance.” he noted.
This statement follows the Fed’s decision last month to keep the federal funds target range at 4.25-4.5%, after three consecutive rate cuts that lowered it by 1 percentage point. Most investors expect US rates to stay steady until around May or June this year.
Furthermore, Powell also confirmed that the Fed will not create a Central Bank Digital Currency (CBDC) under his leadership.
@ Newshounds News™
Source: Coinpedia
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BANKS EXPAND CRYPTO TIES TO CAPTURE IPO DEALS UNDER TRUMP: REPORT
Wall Street banks are pushing to land crypto IPO deals as Trump works to make the U.S. a crypto hub.
Big banks are looking to make more money more with crypto firms as initial public offering opportunities loom, Bloomberg reports, citing people familiar with the matter.
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According to a Feb. 10 report, Morgan Stanley is now actively seeking crypto clients, while Bank of America is considering more deals, and Royal Bank of Canada wants to expand its crypto portfolio.
The spark of interest comes as exchanges like Gemini and Bullish consider going public. Kraken and stablecoin issuer Circle have also explored public listings before.
Banks are eager to grab these deals as the Donald T------------------n hints at loosening regulations to make the U.S. a crypto leader. At the Bitcoin 2024 Conference, Trump promised that, if elected, he would make the United States the “crypto capital of the planet.”
Bullish once planned to go public in a $9 billion SPAC deal with Far Peak Acquisition. However, in 2022 the exchange dropped the idea.
Former CEO Brendan Blumer said the deal was called off because the process was taking “longer than expected.” Bank of America is also preparing for more crypto deals, though specifics remain unclear.
Meanwhile, Swedish fintech giant Klarna is making a big push into crypto ahead of its April IPO. As crypto.news reported earlier, Klarna CEO Sebastian Siemiatkowski shared plans on X to add crypto to the platform. With a potential $15 billion valuation, Klarna’s IPO could be one of the biggest this year.
@ Newshounds News™
Source: CryptoNews
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SWEDISH FINTECH GIANT KLARNA WILL ‘EMBRACE CRYPTO,’ CEO SAYS
Klarna, a Swedish payments firm with 85 million users, is reportedly eyeing a US initial public offering — and its CEO is looking for ideas on how it can integrate digital assets.
This comes as Klarna is preparing for an initial public offering in the US, the Financial Times reported.
@ Newshounds News™
Read more: CoinTelegraph
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Source: Dinar Recaps
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