How High Will ADA Surge If A Cardano ETF Is Approved?

Several altcoins were seen making headlines as asset managers are filing applications for exchange-traded funds (ETF). After Bitcoin (BTC) and Ethereum (ETH) a Cardano (ADA) ETF could soon be making its debut. Earlier today, Grayscale revealed the listing of an ADA ETF on the New York Stock Exchange. The U.S. Securities and Exchange Commission (SEC) received a 19b-4 form from NYSE Arca, a division of the NYSE, requesting clearance for the Grayscale Cardano Trust, which would trade under the ticker “GADA.”

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Looking Into Grayscale’s Latest Interest

This would be the first standalone Cardano ETF that Grayscale is offering. Investors will be able to learn about ADA without having to deal with coin storage if it bags a green signal. The custodian would be Coinbase Custody Trust Company, LLC, while administrative duties would be handled by BNY Mellon. NYSE Arca stated,

“The proposed rule change will facilitate the listing and trading of an additional type of exchange-traded product, and the first such product based on ADA, which will enhance competition among market participants, to the benefit of investors and the marketplace.”

Following this news, the price of ADA recorded a major spike. At the time of writing, the altcoin was trading at a high of $0.8051. This comes after a 14.38% rise over the past 24 hours. Earlier today the asset was trading at a low of $0.6947 before jumping to a high of $0.8159.

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Cardano Price Prediction

The odds of a Cardano ETF getting approved remains uncertain. But the community is confident about the SEC revealing it during the next few months. According to data from CoinCodex, the asset is expected to trade in a range of $0.696086 to $1.900281 in 2025. This will further result in an average yearly price of $1.18845. Compared to the present rates, this may yield a potential return on investment of 135.03%.