{"id":47557,"date":"2025-02-25T11:17:36","date_gmt":"2025-02-25T11:17:36","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=47557"},"modified":"2025-02-25T11:17:36","modified_gmt":"2025-02-25T11:17:36","slug":"cardano-ada-etf-approval-odds-surge-in-the-us-after-key-development-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=47557","title":{"rendered":"Cardano (ADA) ETF Approval Odds Surge in the US After Key Development: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

The SEC acknowledged Grayscale\u2019s application to introduce a spot ADA ETF in America.\u00a0<\/span>
\nThe asset manager also seeks to convert its XRP Trust into an ETF, with similar filings pushing the approval odds to 74% before the end of 2025.<\/p>\n

<\/a><\/span><\/h2>\n

The Chances Are Rising<\/h2>\n

Over the past few months, <\/span>there has been a bunch of companies displaying<\/span> their intentions to launch spot crypto exchange-traded funds (ETFs) in the United States. Among the most active entities in this field is the world\u2019s largest digital asset manager <\/span>\u2013 Grayscale<\/span>.<\/span>\u00a0<\/span><\/p>\n

The organization officially <\/span>filed<\/span><\/a> for a Cardano (ADA) exchange-traded fund with the New York Stock Exchange on February 10. Several hours ago, the SEC acknowledged<\/a> Grayscale\u2019s application. The move marks the beginning of the regulatory review process, which usually lasts 240 days.\u00a0<\/span><\/p>\n

The SEC\u2019s acknowledgment has increased the chances of the product seeing the light of day before the end of 2025. <\/span>According<\/span><\/a> to Polymarket, the odds have risen from 52% on February 24 to 66% <\/span>as of now<\/span>.\u00a0<\/span><\/p>\n

A potential green light will allow investors to gain exposure to ADA without purchasing it from exchanges or worrying about self-custody methods. <\/span>This<\/span> could have a positive effect on the price in the long term.<\/span><\/p>\n

As of now, though, Cardano\u2019s native token is not in the best shape. It trades at around $0.64 (per CoinGecko\u2019s data), representing a 12% daily decline<\/span>.<\/span> Its drop aligns with the broader <\/span>collapse of the cryptocurrency market<\/span>, where Bitcoin (BTC) crashed below $90,000, while Ethereum (ETH) dipped under $2,400.<\/span><\/p>\n

As <\/span>CryptoPotato<\/span><\/em> reported<\/span><\/a>, the sector\u2019s decline negatively affected some over-leveraged traders. The total value of liquidated positions in the last 24 hours surged past $1 billion.<\/span><\/p>\n

Grayscale\u2019s XRP-Related Efforts<\/span><\/h2>\n

The entity also recently <\/span>sought<\/span><\/a> regulatory approval to convert its existing XRP Trust into an exchange-traded fund. <\/span>Earlier this month, the SEC <\/span>acknowledged<\/span><\/a> that application, triggering a substantial uptick in the <\/span>price of the underlying asset<\/span>.<\/span>\u00a0<\/span><\/p>\n

Other well-known companies willing to introduce an XRP ETF in America include 21Shares and Bitwise. The Commission has also acknowledged<\/a> their filings.<\/span><\/p>\n

According to numerous industry participants<\/span> the launch of such an investment vehicle might be just around the corner, <\/span>whereas<\/span> Ripple\u2019s CEO has <\/span>asserted<\/span><\/a> multiple times that this is \u201cinevitable.\u201d<\/span> The chances of an approved XRP ETF in the US before the end of 2025 currently <\/span>stand<\/span><\/a> at 74% (per Polymarket).<\/span><\/p>\n

The post Cardano (ADA) ETF Approval Odds Surge in the US After Key Development: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR The SEC acknowledged Grayscale\u2019s application to introduce a spot ADA ETF in America.\u00a0 The asset manager also seeks to convert its XRP Trust into an ETF, with similar filings pushing the approval odds to 74% before the end of 2025. The Chances Are Rising Over the past few months, there has been a bunch […]<\/p>\n","protected":false},"author":0,"featured_media":47558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-47557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/47557"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47557"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/47557\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/47558"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}