Summary
- The Cardano Foundation said it is preparing to launch an ADA spot exchange-traded fund (ETF) in the U.S. market.
- CEO Frederik Gregaard mentioned the possibility of an ETF launch within the next year.
- The Cardano Foundation said an ETF is important for securing institutional investor access in the U.S. market.
The Cardano Foundation has been confirmed to be pursuing the launch of an ADA spot exchange-traded fund (ETF) in the U.S. market. The market is cautiously discussing the possibility of a launch within the next year.
On the 15th, according to DL News, a crypto asset (cryptocurrency) specialist media, Frederik Gregaard, CEO of the Cardano Foundation, said, "We are carrying out work related to ETFs in the U.S.," adding, "Many announcements look like ETFs but actually include exchange-traded products (ETPs). We are reviewing a spot ETF and are already working on it."
Gregaard did not disclose a specific schedule, but when asked, "Are you aiming to launch the ETF within the next year?" he answered, "Yes."
He explained, "An ETF is likely to be one item on the checklist needed to secure institutional investor access in the U.S. market, rather than a measure to raise the price."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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