A market maker could purchase shares of a foreign company on its...

A market maker could purchase shares of a foreign company on its home exchange and then convert them into ADRs that can be traded on a US exchange like the NASDAQ. ...........

Market makers can also purchase additional shares on the home exchange and use them to maintain the supply of tradable shares in the ADR. This can help to ensure that there is sufficient liquidity in the ADR and that investors can buy and sell shares at reasonable prices.

I think if US Investment Funds ever wanted a supply of Incannex ADR stock on the NASDAQ. A market maker could make it happen, by buying on the ASX and converting them to ADRs, resulting in less availability on the ASX and more supply in the US.

Just a thought!