Cardano Surges 6.3% Weekly, Climbs to 3rd in Grayscale Rankings Amid SEC ETF Hopes

Cardano has moved into third place in Grayscale’s latest rankings, driven by a 6.3% weekly price gain and mounting anticipation for a U.S. Securities and Exchange Commission (SEC) decision on an ADA-focused exchange-traded fund (ETF) application [1]. The platform’s recent performance reflects a broader recovery from prior declines and signals increased institutional interest in the blockchain project [2]. With the SEC expected to render a decision by late August, and a 75% probability of approval according to analysts, the outcome could mark a significant step in Cardano’s institutional adoption [1].

On August 13, 2025, Cardano launched its Midnight Protocol, a major development aimed at enhancing the network’s privacy and scalability. The launch has been interpreted as a strategic move to attract developers and users by expanding the platform’s functionality and use cases [2]. Institutional investors, in particular, have taken note, with the combination of the new protocol and the pending ETF decision fueling optimism about ADA’s future potential.

The Grayscale rankings do not reflect returns or performance over time but rather institutional demand and market positioning [1]. Cardano’s rise to third place indicates growing traction in the crypto market, especially amid the broader altcoin rally and increasing interest in blockchain infrastructure projects. The market is closely watching how regulatory developments, including the SEC’s ETF review, will shape the next phase of Cardano’s growth.

Analysts have highlighted the alignment between the Midnight Protocol’s launch and the timing of the ETF application, suggesting that these developments could collectively reinforce investor confidence. The protocol is expected to improve Cardano’s appeal for both technical and enterprise use cases, potentially broadening its user base and developer community [2]. If the ETF is approved, it may provide a new on-ramp for institutional capital and further legitimize ADA as a regulated investment option.

As the market anticipates the SEC’s decision, investors are advised to stay informed about regulatory updates and project developments. Cardano’s current trajectory reflects a combination of strong technical performance and strategic product launches, both of which could play a key role in its long-term positioning within the broader crypto ecosystem [1].

Source: [1] Cardano Hits 3rd Place in Grayscale Rankings with 6.3% ... (https://coincentral.com/cardano-hits-3rd-place-in-grayscale-rankings-with-6-3-weekly-gain/)

[2] Cardano Price Prediction: Hoskinson Says Midnight Will Be ADA’s Biggest Launch Yet – $10 ADA Could Be Just the Start (https://cryptonews.com/tags/price-prediction/)