The course of Cardano (ADA) has made a big leap after asset manager Grayscale submitted an application for a spot Ada ETF in the United States. This marks an important milestone for the adoption of Cardano and underlines the increasing interest of institutional investors in digital assets.
Although Cardano is attracting more and more developers and users, the currency is still struggling with a weak market sentiment. The rate is 36% below the peak of December 2024, but the hope of a recovery is now growing institutional players are starting to stir.
Institutional investors see potential in Cardano
In the hours after the ETF application of Grayscale, the course of Cardano (ADA) increased by 11%, a stronger increase than that of Bitcoin and Ethereum. This caused a revival in the trading activity and attracted large investors. Despite the wider downward trend in the cryptomarket, this rise gave ADA a powerful boost, which resulted in an increase in the number of large holders (whales).
Two days later, Ada knows how to maintain herself, while investors speculate on further price increases. Crypto trader Ali Martinez wrote on X that Cardano is in an outbreak phase and can possibly rise towards $ 0.83 if the positive sentiment persists. Institutional investors are also expanding their ADA positions, which indicates growing faith in a long-term recovery.
Crypto analyst Lord Crypto also responded to the news as follows:
“The list of ETF applications is getting longer and longer and now Cardano ($ Ada) is on it. Depending on who you ask, this is either a blockchain that is far ahead of its time or a platform that nobody wants to build on. But here is my view on it: the fact that Grayscale Cardano considers suitable for a spot ETF means that they see something beautiful in $ ada. ”
Will there be an Ada ETF soon?
Although the ETF application was received positively, the chance of approval is not self-evident. Analysts point out that the Chicago Mercantile Exchange (CME) has not yet noted ADA Futures, while this was a crucial factor in the approval of bitcoin and ethereum ETFs. This can reduce the chance of approval for a spot Ada ETF.
Yet the hope for faster approval is growing, now that American regulations are becoming increasingly favorable for crypto. Under the leadership of President Donald Trump, the US has set up a crypto-task force to establish clear guidelines for the sector and to promote innovation. This means a clear break with the strict anti-crypto approach to the previous government.
Cardano course is increasing again today
The course of Cardano (ADA) continues to continue its positive trend and again shows a strong increase today. At the moment the rate is around $ 0.81, which is more than 4% higher than a day ago. Ada has even booked a profit of almost 14% over the past seven days.
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Source: https://newsbit.nl/cardano-ada-blijft-stijgen-koers-bereikt-081-na-etf-nieuws/
