Cardano Rises to Third in Grayscale Rankings as SEC ADA ETF Approval Hopes Hit 83%

Cardano has climbed to third place in Grayscale’s latest weekly cryptocurrency performance rankings, signaling growing investor interest amid a generally volatile market [1]. The movement in Cardano’s ranking has coincided with heightened anticipation surrounding the U.S. Securities and Exchange Commission’s (SEC) expected decision on an ADA-based exchange-traded fund (ETF) application later this month [2]. This regulatory development has intensified speculation and drawn broader attention to the cryptocurrency, which has seen a surge in both visibility and market discussion.

According to a crypto analyst known as Trend Rider, the probability of the SEC approving the ADA ETF has risen to 83%, supported by strong technical indicators [3]. This forecast has contributed to a bullish sentiment around the asset, with some observers suggesting that a regulatory green light could push the price of ADA toward $4. The potential approval would represent a significant milestone for the Cardano ecosystem, offering institutional and retail investors a regulated and accessible investment vehicle.

Despite the optimism, the broader market remains sensitive to regulatory and macroeconomic uncertainties. While other cryptocurrencies, particularly Ethereum-based assets, have shown signs of resilience—such as record inflows into related ETFs—the approval of any new digital asset ETF is still contingent on the SEC’s evolving approach to crypto regulation [4]. The agency’s decision on ADA could set a precedent for other projects seeking similar market access, making it a pivotal moment for the industry.

Grayscale has emphasized that Cardano’s improved ranking reflects ongoing investor preferences and market dynamics, based on transparent weekly performance metrics across its platform [2]. The company noted that the movement in rankings does not represent an investment recommendation but rather a reflection of current performance trends. Market participants are closely monitoring how the ETF decision may influence not only Cardano but also the broader crypto market.

The increased focus on Cardano also aligns with a broader trend of alternative cryptocurrencies gaining traction among investors. Recent developments, including major airdrop events and presale activity for other altcoins, have highlighted the competitive landscape within the sector [2]. However, regulatory clarity remains the primary driver of investor sentiment, with the SEC’s decision expected to have a direct and measurable impact on Cardano’s market trajectory.

As the cryptocurrency market continues to mature, the interplay between regulatory developments and market performance is becoming more pronounced. Cardano’s rise in the rankings and the anticipation of the ETF decision illustrate the growing influence of alternative cryptocurrencies in the investment space. Investors are balancing optimism with caution, aware that a favorable regulatory outcome could open new doors for the Cardano project and potentially reshape the broader market landscape.

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Source: [1] Cardano Climbs Charts While SEC's ETF Decision Looms (https://en.coin-turk.com/cardano-climbs-charts-while-secs-etf-decision-looms/)

[2] 4 Bullish Altcoins Racing to Become the Top Performing ... (https://coincentral.com/4-bullish-altcoins-racing-to-become-the-top-performing-crypto-of-2025/)

[3] Hey everyone, I'm bringing you another ... (https://www.facebook.com/groups/CardanoCommunity/posts/2196188****05599/)

[4] BlackRock Addresses Burning XRP ETF Question (https://www.mitrade.com/insights/news/live-news/article-3-102929-20250811)