SEC Stalls Cardano ETF Approval, ADA Price Reacts with 5% Drop

The US Securities and Exchange Commission (SEC) has extended the ADA ETF decision deadline from August 27 to October 26, 2025.
The SEC has also postponed the decision deadline for WisdomTree’s XRP ETF and Canary PENGU ETF to October 12.

The US Securities and Exchange Commission (SEC) has announced that it is delaying its decision on the Grayscale Cardano ETF, shifting the deadline from August 27 to October 26, 2025. The reason is to have more time to extensively evaluate the market structure and consumer protection before its final verdict.

Previous ADA ETF Extensions

This is not the first time the SEC has extended the ADA ETF deadline. It can be recalled that the Commission, in a March 11 filing, announced the postponement of the same ETF decision deadline from April 14 to May 29.

As indicated in our earlier news brief, Grayscale filings for Dogecoin (DOGE), XRP, and Litecoin (LTC) were also affected at that time. Additionally, the Solana ETF applications by 21Shares, Canary, and VanEck, as well as the XRP ETF applications by 21Shares, Canary Capital, and Bitwise, were affected.

Days before the second deadline, the SEC disclosed in another filing that it had decided to postpone this to the third deadline on August 27, as noted in our earlier post.

Alongside the ADA’s recent extension, the SEC has also extended the review period of WisdomTree’s XRP ETF and Canary PENGU ETF to October 12, 2025.

On the chance of approval, prediction market Polymarket has fixed its success odds at 75% for ADA, 81% for XRP, and 99% for Solana (SOL). As highlighted in our recent publication, ADA ETF’s potential approval could be the magic wand that would push the price beyond its all-time high at $3.

Impact on the ADA Price

For now, the recent deadline extension has created a bearish sentiment, which has subdued the price and forced a decline of 3% in the last 24 hours. According to market data, the asset is also down by 9% in the last seven days to trade at $0.84. In addition to this, trading volume has considerably declined, falling by 28% in the last 24 hours to $1.8 billion.

Commenting on the technical aspect of the asset, analyst Javon Marks indicated that the next upsurge could be explosive. According to him, ADA is displaying a similar structure to the one recorded in the previous bull cycle. Per his observation, the asset could soon enter a bullish stage, record a 780% gain, and trade at $8.

ADA

Meanwhile, Cardano co-founder Charles Hoskinson predicts that the price could reach $3, $5, and $10, as examined in our previous coverage.

Adding to this, another analyst called Clifton Fx has tipped the asset to surge by 100-150% in the near term. This follows reports that searches for the term “altcoins” have increased to a four-year high, while the term “Cardano” witnessed a five-month high interest.

In our recent update, whale activities around the asset were also reported to have increased, with wallets holding between 1 million and 100 million ADA accumulating 100 million coins in just a day.

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