The leading digital asset manager, Grayscale, filed for a spot Cardano (ADA) exchange-traded fund (ETF) in the United States in February this year. The authority responsible for approving or denying that type of product is the US Securities and Exchange Commission (SEC).
Numerous X users have recently pointed out that the agency has until May 29 to either approve or reject Grayscale’s application.
It is important to note that the SEC has a maximum of 240 days to review Grayscale’s proposed spot ADA ETF and may choose to delay its decision multiple times. The regulator officially acknowledged the filing on February 24, meaning it has until October 22 to give its final answer.
Launching such an investment vehicle will give investors additional options to gain exposure to Cardano’s native token and could positively impact its price. After all, buying a spot ETF is as simple as purchasing regular stocks, all done through standard brokerage accounts. In the aftermath, investors hold shares of the product, while the fund itself acquires and securely holds the underlying cryptocurrency on their behalf.
Toward mid-April, the chances of an approved spot ADA ETF before the end of 2025 dropped to 37% (according to Polymarket). In the past several days, though, there has been renewed optimism, and the odds have risen to 70%.
