What is the Latest Situation Regarding the Cardano (ADA) Spot ETF? When Will Approval Come?

Analysts say that political and leadership changes within regulatory bodies in the US could create a more favorable environment for cryptocurrency ETFs.

These analyses focus particularly on Cardano (ADA)-focused funding applications, the approval schedule, and their potential impact on the ADA price.

The main reason for the optimistic sentiment observed in the ADA market in the last months of 2025 is the expectation of potential approval for a spot Cardano ETF in the US. Such approval is thought to transform the institutional perception of the asset by enabling traditional finance (TradFi) markets to access ADA through regulated channels.

As of December 2025, there is no spot Cardano ETF approved by the U.S. Securities and Exchange Commission (SEC). Many applications are still under review, and decision dates have been postponed several times for various reasons. The Grayscale Cardano ADA Trust ETF (GADA), established in August 2025 under the Delaware Statutory Trust, remains one of the most closely watched applications in the market.

The final decision timeline, initially set for October 27, 2025, has been pushed back due to internal assessments and government shutdowns in late 2025.

The prior approval of Bitcoin and Ethereum spot ETFs has set a legal precedent for other crypto assets. However, analysts argue that Cardano applications are subject to higher scrutiny due to classification risks and “security” debates. While some market participants see the possibility of approval as strong, the final outcome depends on the progress of the SEC review.

Increased coordination among US regulators and the simplification of rules for some crypto products have positively impacted overall sentiment toward future ETF approvals. Analysts believe that political and leadership shifts within regulatory bodies could soften the climate in favor of crypto ETFs, including ADA; however, there is no official commitment to this effect.

In summary, while there is no approved spot Cardano ETF as of December 2025, the process is ongoing. Market expectations are now focused on a possible decision window in the early months of 2026. The final date will be shaped by the SEC’s actions, classification discussions, and overall crypto market conditions.