ADA token is experiencing strong growth both in price and investor sentiment, as new developments increase expectations for the approval of the Cardano spot ETF in 2025.
The race for altcoin-based ETFs in the U.S. is heating up, as issuers receive support from the Trump administration with a cryptocurrency-friendly stance.
The probability of approving the Cardano ETF exceeds 80%.
According to data from the decentralized prediction platform Polymarket, traders are currently estimating the likelihood of the U.S. Securities and Exchange Commission (SEC) approving the Cardano ETF this year at 80%.
Grayscale Investments recently reinforced market confidence by registering the Grayscale Cardano Trust ETF in Delaware, while also undertaking similar procedures for an HBAR ETF. The registration was submitted on August 12, 2025, with CSC Delaware Trust acting as the registered agent in Delaware.
Delaware's public registration portal shows new filings for Grayscale Cardano Trust ETF and Grayscale Hedera Trust ETF. These are often seen as a stepping stone before officially filing for an ETF.
"Both networks have a growing narrative around the application of real-world assets (RWA), and this step often occurs before filing for a spot ETF; if greenlit, it could bring a massive influx of capital from institutions," commented Web3 researcher Justin Wu.
Common law trusts are often a familiar starting point in Grayscale's ETF deployment strategy, which will then be followed by filing an S-1 with the SEC.
While the registration of a trust fund does not equate to approval, it clearly shows Grayscale's intent to expand its ETF portfolio to include altcoins beyond Bitcoin and Ethereum.
This move aligns with the growing demand from institutions for diverse cryptocurrency investment products. The peer-reviewed development approach and scalable blockchain architecture of Cardano have made the project a strong candidate to access traditional markets through managed investment products.
The legal process has begun.
Previously, the SEC accepted NYSE Arca's 19b-4 filing for the proposed Cardano ETF earlier this year, opening an official review process. The acceptance of the filing is an early but important step towards approval, reflecting the regulator's engagement rather than an immediate denial.
For Cardano supporters, this development is reminiscent of the process of the first spot Bitcoin ETFs, where initial filings laid the groundwork for approval after months of review. If successful, this ETF will allow traditional investors to access ADA without needing to manage digital wallets or private keys.
Analysts also expect the adoption of a standard legal framework for cryptocurrency ETFs to take place soon, which could lead to the simultaneous approval of spot ETFs rather than individual reviews.
At the time of writing, ADA is trading at $0.8789, up nearly 11.6% in the last 24 hours.