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 Polymarket.

Users of the platform can buy and sell shares representing the probability of future events, in this case, 

Users predict a 71% chance that the U.S. Securities and Exchange Commission (SEC) will approve a Cardano ETF. 

As displayed in the chart shared by Polymarket, sentiments hit never-before-seen levels on May 26. It bears mentioning that sentiments have been rising since the start of January 2025, indicating increased demand for a Cardano-based ETF among crypto market players.

The new development comes as the market awaits the SEC’s decision, as May 29, the approval deadline, draws closer. 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.

Cardano (ADA) records intraday growth as bullish sentiments intensify

Meanwhile, ADA has recorded a mild surge in price value this week, with prices going past the golden cross between the 50-day and 200-day EMA, suggesting an increase in bullish momentum.

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.

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Filed under: Bitcoin - @ June 3, 2025 2:24 pm