Will Cardano ETF Approval Change Your Life? Probably Not, But Let’s Look Anyway!

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TL;DR

  • The SEC finally noticed Grayscale’s application for a Cardano ETF, which is kind of a big deal. 🥳
  • They’re also trying to turn their XRP Trust into an ETF because, why not? You might as well gamble on 74% odds before 2025. 🎰

The Chances Are Rising

In a world swirling with financial rumors and desperate hopes, it seems like every company under the digital sun is suddenly in the business of sprouting crypto exchange-traded funds (ETFs). Among the show-offs is Grayscale, the biggest player in the digital asset game, waving its shiny new application for a Cardano ETF like a kid with a new toy. 🎉

They first filed for this financial notion with the New York Stock Exchange on February 10, like someone finally submitting their long-overdue book report. And just a few hours ago, the SEC finally acknowledged their existence—what a thrill! This means we’re starting the tedious 240-day regulatory review process, which is like waiting for your bread to rise, but with far less yeast. 🥴

Thanks to this stroke of luck, folks are now more optimistic. The odds have jumped from a measly 52% on February 24 to a hopeful 66% today. Give it a round of applause! 👏

If we do get a green light, it means you can dip your toes into ADA without the usual hassle of buying it off an exchange and fretting over custody methods. Because who doesn’t love a stress-free financial experience? Long-term price gains might follow—unless, of course, you’re like me and prefer your highs and lows just like your love life: unpredictable. 😅

However, Cardano’s current reality is that it’s trading around $0.64, which is a 12% dip. It’s like watching your hopes for a first date crash to earth, hard. This decline fits neatly into the beautiful chaos of the entire cryptocurrency sector, which has also been having a rough day at the office. Bitcoin is having an identity crisis below the $90,000 mark while Ethereum sadly cries under $2,400. 📉

As CryptoPotato so eloquently put it, the market’s decay has been less than kind to over-leveraged traders, leaving them to drown in a sea of liquidated positions worth over $1 billion in just 24 hours. That’s gotta sting. 🍅

Grayscale’s XRP-Related Efforts

Meanwhile, Grayscale is also trying to play god with its XRP Trust, seeking approval to turn it into an ETF. The SEC gave a half-hearted thumbs-up earlier this month, triggering a price spike that was possibly as surprising as finding out your coworker can juggle. 🤹

And it’s not just Grayscale living the dream. 21Shares and Bitwise are also in the chase, because who wouldn’t want an XRP ETF? The Commission has taken note of their attempts too, which is more attention than I ever got in high school. 🤔

According to industry insiders who probably live in a bubble of optimism, an XRP ETF launch is just around the corner—if you believe Ripple‘s CEO, who swears it’s “inevitable.” The chances of this happening before the clock strikes 2026? A delightful 74%, according to Polymarket! 🎊

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2025-02-25 14:28