The approval of Cardano ETFs has increased dramatically after the latest filing of Grayscale at the U.S. Securities and Exchange Commission. Market data indicate that investor confidence is climbing, signaling stronger momentum for one of the most anticipated crypto ETFs of the year.
Grayscale Filing Sparks Renewed Optimism
Cardano ETF approval odds have jumped to 87%, according to Polymarket. This marks an 11% rise within one week. The increase follows weeks of uncertainty, during which the probability dropped to 75%, far below July’s 89%. The rebound reflects stronger market sentiment driven by fresh regulatory moves.
The turning point came on August 29. Grayscale filed an amended S-1 form with the SEC for its Cardano ETF. This followed its earlier 19b-4 submission. If approved, the ETF will list on NYSE Arca under the ticker GADA. It will directly hold ADA, avoiding leverage and derivatives. Coinbase Custody will handle storage, providing institutional-grade security.
Grayscale’s push mirrors its strategy for other crypto products. Bloomberg analyst James Seyffart confirmed the firm also updated its Polkadot ETF filing. He stressed that these amendments are not brand-new applications but show Grayscale’s ongoing focus on building a strong crypto ETF lineup. This has given hope to the investors of Cardano who perceive the filing as a milestone.
New: @Grayscale submits S-1s for both their Cardano and Polkadot ETFs. They had already submitted 19b-4s for each of these — so these aren't brand new filings pic.twitter.com/JtcVBiKU2T
— James Seyffart (@JSeyff) August 29, 2025
SEC Delays and Market Momentum
Nevertheless, the SEC has not given a final ruling on the Cardano ETF. The decision initially anticipated on August 27 was now adjourned to October 26, 2025. The proposal was submitted by NYSE Arca in February, and several amendments have been submitted. Recently, the regulator has opened the application to public comment, and the review has been further extended.
The delay reflects broader caution. The SEC is reviewing 96 crypto ETF filings, its largest load to date. Bloomberg’s Seyffart noted that the agency is balancing market demand with regulatory safeguards. Nevertheless, new developments indicate that the prospects can be changing. It was made clear in a recent clarification by the SEC that not all staking activities are securities. Such a step represented a less aggressive attitude towards crypto-related items.
In the meantime, Cardano has also acquired momentum in the wider market. ADA was ranked third third-best performer in its Top 10 Crypto Assets by Weekly Returns, after XRP and Stellar. This ranking indicates the increasing interest of investors. Together with the ETF approval recovery, Cardano seems to be going into a better phase. Now, October is regarded as one of the months when a potential SEC decision could be made.
