Cardano Crypto Week: Ouroboros Leios Upgrade and Grayscale ETF Filing Fuel $ADA Price Target $10 Buzz

Cardano ADA news is back in the spotlight with two significant updates: the Ouroboros Leios upgrade entering public review and Grayscale filing for $ADA and Polkadot ETFs. These updates could fuel buzz in the market, with top crypto analysts highlighting the $ADA price target of $10. The Leios upgrade aims to increase token speed and security, while Grayscale's ETF filing could bring in major institutional investors, boosting liquidity and trust in the coin's price movement.

Grayscale Investments has made significant strides in expanding its crypto ETF lineup by filing S-1 registration statements with the U.S. Securities and Exchange Commission (SEC) for exchange-traded funds (ETFs) linked to Polkadot (DOT) and Cardano (ADA). This move follows earlier 19b-4 filings in February 2025, signaling Grayscale's ongoing efforts to secure SEC approval for single-asset crypto ETFs [1].

The proposed Grayscale Polkadot Trust ETF would list on Nasdaq under the ticker symbol "DOT" and is designed to track the CoinDesk DOT CCIXber Reference Rate. Meanwhile, the Grayscale Cardano Trust ETF would trade on NYSE Arca under the ticker "GADA" and follow the CoinDesk Cardano Price Index. Both ETFs are structured as passive investment vehicles that hold the underlying assets in custody with Coinbase, without employing leverage or derivatives [1].

The filing of these ETFs is a key step in Grayscale's strategy to offer single-asset crypto products beyond Bitcoin and Ethereum. The S-1 filings provide a detailed framework for how the ETFs would operate, offering transparency for regulators and potential investors. If the SEC grants approval, these ETFs could allow both institutional and retail investors to gain exposure to DOT and ADA without the complexity of direct token ownership [2].

The Cardano community has reacted positively to the news, with some analysts highlighting Cardano's potential institutional recognition and the boost it could receive from Grayscale's reputation. The filing signals a potential milestone for Cardano, as it could elevate the project to the same level of institutional recognition as Bitcoin and Ethereum. Cardano's research-driven development and emphasis on scalability and sustainability make it an attractive candidate for institutional investment [2].

The SEC's decision on the Cardano and Polkadot ETFs is expected in late October 2025, with Oct. 26 hinted at as a likely date. The current approval odds for the Cardano ETF are at 87% on Polymarket, while Bloomberg analysts estimate 75% [3].

In addition to the Cardano and Polkadot ETFs, Grayscale is also pursuing spot ETF approval for Avalanche (AVAX), Solana (SOL), Litecoin (LTC), and a multi-crypto fund. The company's expansion into altcoins reflects the growing demand for diversified crypto investment products. As of now, 92 crypto ETPs are awaiting SEC decisions, with most deadlines in October 2025 [3].

The news of Grayscale's ETF filings comes as Cardano's Ouroboros Leios upgrade enters public review. The Leios upgrade aims to increase token speed and security, which could further fuel market buzz. Top crypto analysts have highlighted the potential for the ADA price to reach $10, driven by the upgrade and the potential institutional recognition from Grayscale's ETF filing [4].

References:
[1] Grayscale Files S-1 for Polkadot and Cardano ETFs (https://cryptobriefing.com/grayscale-files-s-1-polkadot-etf/)
[2] Grayscale Files S-1 for ADA Trust ETF, Boosting Institutional Hopes (https://thetradable.com/crypto/ada-price-prediction-grayscale-files-s1-for-ada-trust-etf-boosting-institutional-hopes-ig--m)
[3] Grayscale files for Polkadot and Cardano spot ETFs in latest SEC push (https://coinpedia.org/news/grayscale-files-for-polkadot-and-cardano-spot-etfs-in-latest-sec-push/)
[4] Cardano ADA news is back in the spotlight with two significant updates: the Ouroboros Leios upgrade entering public review and Grayscale filing for $ADA and Polkadot ETFs (https://u.today/grayscale-submits-s-1-filing-for-cardano-etf-ada-community-reacts)