Cardano ETF Hopes Dragged Out as Regulators Hit Pause Until October

The U.S. Securities and Exchange Commission (SEC) has postponed its ruling on whether to approve Grayscale’s proposal to list a Cardano ETF, shifting the deadline to October 26, 2025. The regulator had been expected to decide by late August.

Cardano’s First Big ETF Attempt

Grayscale first submitted its application in February through NYSE Arca, hoping to launch a product that would track ADA without requiring investors to handle the token directly. The proposal has since gone through amendments, and the SEC even called for public input earlier this year, highlighting the significance of the filing.

If approved, the fund would open the door for traditional brokerage clients to gain exposure to Cardano in the same way they do with Bitcoin and Ethereum ETFs, which also endured prolonged review processes before eventually clearing regulatory hurdles.

Why the SEC Wants More Time

Instead of issuing a quick verdict, regulators chose to extend their review window. The SEC explained that more time is needed to weigh how such a listing might affect investor safeguards and the broader market framework. It’s a familiar tactic: crypto-related ETF proposals almost always face multiple extensions before any final word is given.

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The decision means the SEC has until late October to either grant approval or reject the application outright. Market watchers note that these delays often hint at cautious internal debate rather than outright dismissal.

Cardano’s Growing Institutional Spotlight

For Cardano, the review marks an important moment in its journey toward mainstream recognition. The blockchain’s native token, ADA, has seen rising interest from institutional players, as reflected in Grayscale’s asset rankings. An eventual approval could push Cardano into a much larger investor pool, bridging the gap between traditional finance and blockchain adoption.

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