The 8 billion USD ETF fund adds Cardano (ADA) to its portfolio, boosting institutional adoption
An 8 billion USD digital asset fund has announced the addition of Cardano (ADA) to its ETF product line, marking a significant step for institutional adoption. ADA is currently up slightly by 2%, trading around 0.45 USD, thanks to Cardano's potential in DeFi and smart contracts. Analysts predict that this move could push ADA's price to 1 USD in the next quarter, especially as Cardano completes the Chang hard fork upgrade to increase processing speed. However, competition from Solana and Ethereum remains a challenge. This event strengthens Cardano's position as an environmentally friendly blockchain, attracting ESG investors.
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