Cardano ETF Buzz Peaks as May 29 Deadline Nears — Is SEC Approval Finally Within Reach?

As the ETF market continues to heat up, all eyes are now turning to the potential approval of a Spot Cardano ETF, with the May 29 deadline fast approaching. Currently, only two spot crypto ETFs are active: Bitcoin and Ethereum. Both have drawn significant investor interest and triggered notable price movements in their respective tokens. 

A similar reaction is anticipated for Cardano (ADA), fueling speculation and surging optimism on platforms like Polymarket. With approval odds hitting new highs, the question remains: Will the SEC finally give the green light to Cardano’s first spot ETF?

Cardano ETF Approval Odds Surge to 71% on Polymarket as SEC Decision Looms

Investor sentiment surrounding a potential Cardano (ADA) ETF is gaining momentum, with Polymarket odds soaring to 71% ahead of the U.S. Securities and Exchange Commission’s (SEC) May 29 decision deadline. Grayscale, one of the industry’s largest asset managers, filed for the Spot Cardano ETF earlier this year, along with a wave of other crypto-based applications. Market chatter suggests the SEC has acknowledged the filing and is now preparing to deliver its verdict.

The sharp rebound in approval odds, from a low of 49% earlier this month to a new all-time high, reflects growing optimism among investors. This shift is especially notable following the SEC’s recent delays on other crypto ETFs, including XRP.

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As anticipation builds, Cardano’s price is showing bullish momentum. ADA is currently trading at $0.77, marking a 3.5% daily gain and up 6.5% over the past week. Technical indicators show ADA holding above key resistance levels. Analysts point to bullish chart patterns that could drive the price to $0.84 in the short term. Some long-term forecasts even suggest a potential rally to $13, depending in part on how the SEC rules later this week.

Will the SEC Approve a Cardano ETF This Week? Uncertainty Lingers Despite Rising Optimism

With the SEC’s decision deadline approaching, speculation around a potential Spot Cardano (ADA) ETF approval is at a fever pitch. While investor confidence remains high, supported by Polymarket data and expert predictions, uncertainty persists. One major point of concern is the recent postponement of decisions on other crypto ETFs, including Solana (SOL). The SEC has cited the need for additional time to evaluate regulatory compliance and ensure investor protection.

Some analysts remain optimistic. A well-known Cardano expert recently pointed to encouraging signs, including Polymarket’s 71 percent approval odds, commentary involving former SEC Chair Paul Atkins, and a Bloomberg report suggesting up to a 75 percent chance of approval. Notably, Cardano has not faced any significant regulatory hurdles and continues to see strong adoption. This further strengthens the case for approval.

Still, the broader crypto community remains divided. While some anticipate a green light from regulators this week, others expect Cardano could face the same delays experienced by other pending ETFs. The SEC is currently reviewing over 70 ETF applications, including high-profile filings related to XRP, Dogecoin, and other digital assets. Many of these are expected to receive decisions in June.

Adding to the speculation, the recent launch of a futures-based XRP ETF saw strong trading volumes on its first day. This has raised hopes that similar momentum could support spot ETF approvals in the near future.

Despite growing optimism, no definitive signals have been given. As the SEC continues to take a cautious approach toward crypto ETFs, delays remain a real possibility for Cardano. For now, investors will have to wait for official updates and regulatory clarity.

Frequently Asked Questions (FAQs)

1. What is the current status of the Spot Cardano ETF approval? 

The U.S. Securities and Exchange Commission (SEC) has yet to issue a final decision on Grayscale’s Spot Cardano ETF application. A ruling is expected by May 29, 2025, as the agency continues to evaluate the proposal.

2. Is the SEC likely to approve the Cardano ETF?

 While investor sentiment remains optimistic, recent delays on other cryptocurrency ETFs, such as Solana and XRP, suggest that a postponement for Cardano is still possible. The final outcome remains uncertain.

3. How is Cardano’s price responding to the ETF speculation? 

Cardano (ADA) is trading at approximately $0.77, reflecting a 3.5% gain over the past 24 hours and a 6.5% increase for the week. The token has shown strong bullish momentum, with technical indicators pointing to continued upward movement as investors anticipate the SEC’s decision.