Grayscale Investments is considering a change to its traditional lifecycle for launching crypto products, as suggested by a recent Cardano ETF filing. The company typically starts with private placements for accredited investors, then obtains public quotations for unrestricted shares, followed by making its products SEC-reporting companies and eventually uplisting them to an ETF. However, the filing for a Cardano ETF indicates that Grayscale might be skipping some steps. This move could suggest optimism that the SEC is open to approving more spot crypto funds beyond Bitcoin and Ethereum. Other fund managers also have proposals for ETFs holding other crypto assets. Some experts believe that Grayscale would file directly for ETFs if it expects approval, while others think the private placement offering first allows them to attract assets ahead of the competition.



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