Why the May 29 Decision is Crucial for Cardano ETF and ADA Investors

The US Securities and Exchange Commission (SEC) could potentially approve the first spot ADA ETF in the US, which was filed by Grayscale, a leading digital asset manager, earlier this year. The SEC has a review period of 240 days, ending on October 22, but it is expected to make a decision by May 29.

If approved, this would provide investors with more exposure to Cardano's native token, potentially impacting its price. The chances of approval have increased to 70%. Other cryptocurrencies like XRP, SOL, and DOGE also have multiple spot ETF filings.

According to Polymarket, the odds of approval before 2025 stand at 84% for XRP, 83% for SOL, and 67% for DOGE.