Amid the immense hype around exchange-traded funds, the eyes are on the Spot Cardano ETF approval as the deadline nears. At present, only two spot ETFs are functioning, Bitcoin and Ethereum, each with high attention.
More importantly, both witnessed high inflows and an impact on their tokens’ value. The same is expected for the Cardano token, resulting in highly anticipated approval odds on Polymarket. Will the SEC finally say yes to this ADA ETF? Let’s discuss.
Polymarket Cardano ETF Approval Odds Hit 71%
Grayscale filed for the ADA ETF at the beginning of the year, along with others. It is rumored that the SEC has acknowledged the filing and is set to make a decision on May 29, 2025. As the SEC’s decision deadline nears, the odds of Cardano ETF approval hit an ATH of 71% after its crash to 49% at the beginning of the month.
The 71% approval odds hint that the investors’ confidence in its approval is rising, especially as the SEC delayed the XRP and other crypto ETFs earlier in the month. Amid this anticipation, the Cardano price is moving up, currently trading at $0.77, at a 3.5% surge today and 6.5% over the week.
As ADA trades above key resistance and forms multiple bullish patterns, expert Cardano price prediction hints at a potential rally to $0.84 in the short term and $13 in the long term. In this, the SEC’s decision could play a significant role.
Will SEC Approve Cardano ETF This Week?
Despite the high odds and investors’ confidence in the Cardano ETF approval this May, there is uncertainty. The prime reason is the delay in SOL and other ETFs, as the SEC claims additional time is needed to ensure its compliance with rules & regulations and investor safety.
A Cardano expert hints at the potential approval, citing Polymarket data, SEC Chair Paul Atkins’ interaction, and a Bloomberg prediction. Earlier, Bloomberg analysts reportedly claimed a 75% chance of ADA ETF approval. Besides, there’s no regulatory or compliance issue with Cardano, and its adoption is high.
However, the community is divided on the SEC decision, as many anticipate the possibility, while others anticipate delays like other crypto ETFs. Additionally, there are more than 70+ ETF filings under review, and the SEC will decide on some of the crypto ETFs like spot XRP, Dogecoin, etc, in June.
The futures XRP ETF went live recently and gained high trading volume on the first day itself. As a result, there’s also a high expectation of its approval.
However, there are no confirmed or fully backed predictions. Moreover, the consistent delays of these exchange-traded funds hint at potential delays for Cardano as well. Investors must wait for further clarity and information on the subject.