The chance that Cardano (ADA) will get its own Spot Exchange Traded Fund (ETF) in 2025 is increasing. According to Bloomberg, there is currently a 60% chance that an ADA ETF will actually be launched.
The first important date to keep an eye on is March 27. On that day, the American Securities and Exchange Commission (SEC) must respond to the first requests for a Cardano ETF.
Cardano course is lagging behind despite ETF speculation
Despite the increasing speculation about an ADA ETF, the Cardano course shows little exercise for the time being. The price of ADA fell by 1.3% in the last 24 hours and is currently at $ 0.78.
The Altcoin has been in a downward trend since December last year. At the time, the race reached a local peak of around $ 1.30, but since then the value has fallen by 40%. Many investors therefore remain Bearish about the future of Cardano.
Grayscale requests Cardano ETF
The application for a Cardano spot ETF on the New York Stock Exchange (NYSE) has been submitted by Grayscale, a large American asset manager specialized in digital assets.
According to experts, an ADA ETF could attract billions of dollars in capital, comparable to the Ethereum (ETH) ETFs. Ethereum saw nine funds were launched last summer, which currently manage $ 10.33 billion together.
Cardano ready for a big price increase?
Although Ada has difficulty breaking the $ 0.80 limit, some analysts expect a price repair in the short term. During the Bull Cycle of 2021-2022, the Cardano course followed a similar pattern: after a local peak the price fell sharply, and then returns to an accumulation phase.
At the moment Ada seems to be following this process again. If history repeats itself, the course could make an explosive increase and possibly break the all-time high of $ 3.09.
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Source: https://newsbit.nl/kansen-op-een-cardano-ada-etf-stijgen-naar-60-volgens-bloomberg/
