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SEC Accepts Grayscale’s Cardano ETF Filing – Decision Expected by August 2025!
On February 24, 2025, the U.S. Securities and Exchange Commission (SEC) announced its acceptance of Grayscale’s proposal for a Cardano (ADA) exchange-traded fund (ETF). This decision marks the beginning of the review process, with a deadline set for a decision by August 2025.
As part of the filing process, NYSE Arca submitted a request to list and trade shares of the Grayscale Cardano Trust on their stock exchange. The SEC’s acceptance of this proposal indicates that it has commenced its evaluation, which is expected to conclude within the next six months.
Approval of this ETF would grant investors the opportunity to gain exposure to Cardano (ADA) through a regulated platform. This development could significantly impact the cryptocurrency market, as it would allow for increased mainstream participation in the ADA asset class.
Market sentiment regarding the approval prospects has shifted decidedly in favor of an affirmative decision. As of February 25, 2025, Polymarket’s decentralized prediction platform estimates the likelihood of ETF approval at a substantial 62%, up from 51% in January.
This positive shift in market sentiment can be attributed to the SEC’s recent acknowledgement of multiple crypto ETF filings, including Grayscale’s XRP ETF. The increased optimism surrounding the potential for this new product has led to an elevated level of enthusiasm within the cryptocurrency community.
The implications of a successful approval could have profound effects on Cardano’s (ADA) market value. Analysts believe that if support levels of $0.67 and $0.81 are maintained, it is plausible that ADA could experience further price appreciation. However, any breach of this range may result in downward pressure impacting the asset’s value.
At the time of writing, Cardano is trading at $0.68, with a market capitalization of $24.16 billion. The cryptocurrency has experienced an astonishing 81.15% surge in trading volume, reaching $1.08 billion as of February 25, 2025.
