Grayscale Investments has officially registered the “Grayscale Cardano Trust ETF” in Delaware, marking a significant step toward bringing a spot Cardano ETF to market.
The filing, made on August 12, 2025, reflects Grayscale’s established strategy, forming Delaware trusts before submitting formal applications to the U.S. SEC.
This move comes as the SEC is already reviewing NYSE Arca’s 19b-4 filing for a spot Cardano ETF, with analysts estimating a 75% chance of approval by late August. If approved, the ETF would give institutional and retail investors an easier way to gain ADA exposure without the technical issues of crypto custody.
Grayscale’s expansion into altcoin ETFs, beyond its flagship Bitcoin and Ethereum products, reflects growing institutional demand for diversified crypto investment vehicles.
On-chain data shows more than 15 billion ADA tokens have remained untouched for over a year, an all-time high for Cardano. This surge in long-term holding signals deep conviction among investors, even during periods of sluggish price performance.
Technical indicators also suggest bullish momentum is building. ADA has recently broken through the key $0.85 resistance level, and if it sustains above this zone, analysts predict a possible rally toward $1.20, a gain of up to 48% from current levels.
If approved, the Cardano ETF could draw significant institutional inflows and boost ADA’s liquidity. With long-term holders at record highs and favorable regulatory trends, market analysts remain optimistic. Projections suggest ADA could rally past $1.50 if these factors align.
Cover image from ChatGPT, ADAUSD chart from Tradingview
