Update on Grayscale Cardano ADA Trust ETF
The Cardano-focused community account, Cardanians, has reported a significant update regarding the Grayscale Cardano ADA Trust ETF. The U.S. Securities and Exchange Commission (SEC) has set a deadline of October 26, 2025, to make a decision on whether to approve or reject this proposed exchange-traded fund (ETF). This extension comes as part of the SEC’s broader approach to slow down deliberations on numerous spot cryptocurrency ETF applications.
Prospects for Approval
Grayscale’s proposed Cardano ETF recently made its way onto Delaware’s official registration portal, bringing its prospects closer to potential endorsement despite the current delay. Earlier this year, the SEC accepted the 19b-4 submission from NYSE Arca concerning the Grayscale spot Cardano ETF, raising hopes within the crypto community.
As anticipation mounts for the SEC’s ruling, expectations seem optimistic. Current speculation on Polymarket suggests an 87% chance of approval, with Bloomberg analysts placing the probability at 75%. These figures reveal the confidence within the Cardano community as they look toward the 2025 deadline.
Technological Advancements in Cardano
In related advancements, Cardano’s development team, Input Output, has launched the Halo2-Plutus verifier. This open-source tool aims to incorporate zero-knowledge proofs (ZKPs), a technology crucial for enhancing the blockchain’s privacy, scalability, and security features. The Halo2-Plutus verifier is designed to generate and verify ZKPs, facilitating integrations with Plinth smart contracts on the Cardano platform.
Intended primarily to aid the Midnight-Cardano zk-bridge, this verifier will also support diverse applications including membership proofs and confidential transactions. The initiative marks a significant step in bridging powerful cryptographic systems with the capabilities of Cardano’s smart contract framework.
Conclusion
With the SEC’s deadline looming, the Cardano community remains hopeful for favorable developments on both the ETF approval and technology advancements.
