Cardano ETF Approval Likely 71% Predicted by May 29

A Cardano-based ETF is likely to gain approval from regulators in the near term, according to recent data from the leading cryptocurrency prediction market platform. Users of the platform can buy and sell shares representing the probability of future events, in this case, the approval of a Cardano ETF. Users predict a 71% chance that the U.S. Securities and Exchange Commission (SEC) will approve a Cardano ETF. Sentiments hit never-before-seen levels on May 26, indicating increased demand for a Cardano-based ETF among crypto market players.

The new development comes as the market awaits the SEC’s decision, with the approval deadline set for May 29. Grayscale filed for an application with the U.S. SEC in February. If approved, the investment firm will become the first to offer an ETF to track the price of ADA, the native token of Cardano. The anticipation surrounding a potential Cardano ADA ETF has reached unprecedented levels, with market participants increasingly optimistic about its approval. This sentiment has been on the rise since the start of January 2025, indicating a growing demand for such an investment vehicle among crypto market players.

Cardano (ADA) has also seen a mild surge in price value this week, with prices surpassing the golden cross between the 50-day and 200-day Exponential Moving Averages (EMA). This technical indicator suggests an increase in bullish momentum, further fueling market optimism. Market participants remain optimistic as the integration of ETFs has previously resulted in a massive price increase for the assets involved. In ADA’s case, market players expect no different, as they maintain optimism that the ETF approval could catapult ADA to $1. Hourly gains have since soared by 0.21%, while weekly gains are up by 4.86%. ADA is trading at a press time price of $0.68.

The potential approval of a Cardano ETF is seen as a significant milestone for the cryptocurrency market, as it would provide institutional investors with a regulated and accessible way to gain exposure to ADA. This could lead to increased liquidity and stability for the token, as well as greater adoption and integration into the broader financial ecosystem. However, the final decision rests with the SEC, and market participants will be closely monitoring any updates or announcements from the regulatory body in the coming days.