ADA meets spot ETF listing requirement after Grayscale withdrawal

Cardano’s ADA now meets the U.S. SEC’s futures-trading requirement for spot ETF listing eligibility, potentially simplifying future filing procedures, CryptoSlate reported. The change came two days after Grayscale withdrew its application for a spot ADA ETF, as CME ADA futures completed six months of trading on Aug. 9, according to the report. Cryptocurrencies that have traded for at least six months on a qualifying futures market are recognized as eligible underlying assets for spot exchange-traded products under the SEC’s general listing standards. As a result, any new issuer seeking to file for a spot ADA ETF is likely to face a lighter regulatory review burden. Still, no asset manager currently has an application pending for a single-asset spot ADA ETF.