AI Summary
- Since a Cardano ETF filing by Greyscale, interest in the token has risen with ADA being held alongside top ETF picks such as XRP, HBAR, and Litecoin.
- The Cardano network recently went through its Plomin hard fork, further decentralizing the network and introducing new features. With Cardano’s native ADA token up 18% over the last 2 weeks, a positive outlook is shaping up for the token with many investors wondering when its ETF be launched.
- On February 11, 2025, Greyscale Investments filed for the first ADA spot ETF in history, guiding ADA on the road toward an upcoming batch of altcoin ETF approvals.
- Cardano’s ETF filing places ADA alongside top altcoins that have already received their filings and are awaiting approval.
Since a Cardano ETF filing by Greyscale, interest in the token has risen with ADA being held alongside top ETF picks such as XRP, HBAR, and Litecoin.
The Cardano network recently went through its Plomin hard fork, further decentralizing the network and introducing new features.
With Cardano’s native ADA token up 18% over the last 2 weeks, a positive outlook is shaping up for the token with many investors wondering when its ETF be launched.
Cardano ETF filing launches network into rally
On February 11, 2025, Greyscale Investments filed for the first ADA spot ETF in history, guiding ADA on the road toward an upcoming batch of altcoin ETF approvals.
Upon the announcement, ADA surged 15% in light of volatile market conditions and macroeconomic factors.
The filing, made to the NYSE, will allow institutional investors to acquire ADA tokens via a Greyscale ETF called $GADA, with Coinbase Custody as custodian.
Since the start of the new year, Cardano’s network upgraded to ‘Plomin’, bringing a host of new governance changes meant to further decentralize the network.
With Plomin, all ADA holders will receive new rights enabling them to take part in voting for proposals for key network decisions and upgrades.
ADA ETF on the horizon
Cardano’s ETF filing places ADA alongside top altcoins that have already received their filings and are awaiting approval.
Upcoming altcoin ETF launches this year may include Ripple’s XRP, Hedera Hashgraph’s HBAR, Litecoin (LTC), Solana, and Doge.
According to Bloomberg’s Eric Balchunas, Litecoin and Hedera are top picks for ETF approvals soon alongside XRP once its case with the SEC has been officially settled.
Cardano is a new addition to the list and experts are awaiting for its journey through the SEC to develop.
With the SEC’s Crypto Task Force prone to crypto de-regulation and overhauling laws, Cardano’s ETF approval may come sooner than investors think.
Cardano is considered an “ISO compliant” crypto with close ties to regulatory leaders in the US, along with exchanges such as Coinbase. For a quick ETF approval, regulatory compliance is appreciated.
