NYSE Arca has filed for Grayscale Cardano ETF, seeking to list a Cardano Trust under the ticker GADA
Bitcoin Pepe presale launches on February 11, 2025
Bitcoin Pepe aims to build a Layer-2 solution for Bitcoin leveraging Solana’s speed and low fees and Bitcoin’s security
NYSE Arca filed a 19b-4 form with the US Securities and Exchange Commission (SEC) to list the Grayscale Cardano Trust exchange-traded fund (ETF).
The form was filed on February 10, 2025, and marks a significant step toward the first US spot Cardano (ADA) ETF.
Notably, the ADA ETF filing coincides with the launch of Bitcoin Pepe’s presale, which is scheduled to go live today (February 11, 2025).
SEC has 45 days to give feedback on the Grayscale Cardano ETF
According to the NYSE Acra filing, Grayscale, a leading crypto asset manager, has partnered with NYSE Arca to propose the Grayscale Cardano Trust under the ticker GADA. Grayscale is seeking to list and trade shares on the NYSE.
The trust would hold Cardano’s ADA tokens, with each share representing fractional ownership of the assets, minus expenses.
The filing, submitted under NYSE Arca Rule 8.201-E, reflects the growing institutional interest in altcoin ETFs, following the SEC’s approval of Bitcoin and Ethereum spot ETFs last year. The trust’s net asset value will be calculated daily using an index price from regulated exchanges like Coinbase and Kraken, with Coinbase Custody safeguarding assets and BNY Mellon serving as administrator.
Following the news, the price of Cardano’s native token, ADA, had surged by over 14% to $0.7948 at press time. However, regulatory hurdles remain, as the SEC previously categorized Cardano as security in lawsuits, and the absence of CME ADA futures could delay approval.
Nevertheless, the SEC has 45 days to approve, deny, or extend its review, with market optimism tempered by caution over regulatory challenges.
Bitcoin Pepe presale, the first Bitcoin meme ICO, launches today
The crypto community is celebrating the Cardano ETF proposal that could impact the price of ADA if approved.
While this is happening, another crypto project, Bitcoin Pepe, is set to launch the world’s first meme-focused initial coin offering (ICO) on Bitcoin today with 50% of its BPEP token supply available pre-market.
Starting at $0.021, BPEP’s price will increase by 5% after each stage sells out, with early investors potentially seeing gains of over 4x before exchange listings.
Besides the presale, the Bitcoin Pepe project aims to build a Layer-2 solution for Bitcoin, combining Solana’s speed and low fees with Bitcoin’s security, introducing the PEP-20 token standard to enable meme coin launches on the blockchain.
Bitcoin Pepe seeks to unlock $2 trillion of dormant Bitcoin capital for the $100 billion meme coin market. It offers a meme-friendly ecosystem, including a decentralized exchange akin to Solana’s pump.fun.
While the project has garnered over 10,000 social media followers and reflects retail enthusiasm for meme coins, its speculative nature carries significant risks just as with any other meme coin project.
However, the Bitcoin Pepe presale launch aligns with a broader meme coin boom, following successful raises by projects like Pepe Unchained and Wall Street Pepe, signalling a possible presale success.
Notably, both the Grayscale Cardano ETF filing and Bitcoin Pepe’s presale highlight the dynamic evolution of the cryptocurrency market, with regulated investment vehicles and speculative ICOs catering to diverse investor appetites.
With the Cardano ETF awaiting clearance by the SEC, investors could try the Bitcoin Pepe presale for possible returns once it gets listed on exchanges when the presale concludes.
