Odaily Planet Daily News NYSE Arca submitted a 19b-4 form on behalf of Grayscale on Monday to form the proposed Grayscale Cardano Trust Fund. According to the document, the custodian will be Coinbase Custody Trust Company, LLC, and the manager will be BNY Mellon Asset Servicing.
NYSE Arca stated in the document that "the exchange pointed out that the proposed rule change will promote the listing and trading of another class of exchange-traded products, as well as the first such product based on ADA, which will enhance competition among market participants, thereby benefiting investors and the market." (The Block)