The SEC delays its decision on Grayscale’s ETF for Cardano and Avalanche, causing a short-term price dip, but long-term market sentiment remains bullish.
Another ETF Decision Postponed
The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision regarding the proposed spot ETFs for Cardano (ADA) and Avalanche (AVAX), filed by Grayscale. The initial decision date of May 29 has now been pushed to July 13, with a final deadline set for October 22, 2025.
As a result, Cardano’s price dropped 4%, falling to $0.754, while AVAX declined over 2%. Anticipation of a favorable outcome had kept hopes alive for ADA to break the $0.80 barrier, but the delay adds further downward pressure on the price.
Market Sentiment and Reactions
Despite the pullback, traders on prediction market Polymarket remain optimistic — assigning a 67% chance that a Cardano ETF will be approved by year-end. Many in the crypto community view such delays as buying opportunities rather than setbacks. As the saying goes: regulators can slow the process, but they can’t stop the technology.
Grayscale submitted the application to list the Cardano Trust on NYSE Arca back in February 2025. The proposal was later updated for public comment. After the initial 45-day review period, the deadline was extended to May 29, and now to July 13.
eToro Re-Lists ADA
In a positive development, eToro has reinstated Cardano on its trading platform, along with 12 other cryptocurrencies. This comes after eToro paid a $1.5 million fine to the SEC, settling regulatory concerns that led to ADA’s delisting in 2021.
SEC Continues to Delay Crypto ETFs
The SEC’s habit of postponing decisions continues to dampen investor enthusiasm. CoinShares’ ETF for XRP was recently delayed, and last week the agency pushed back decisions on DOGE and XRP ETF proposals until June 17.
Can ADA Reach $10?
Despite the current downturn, technical indicators remain promising. The MACD and risk models suggest a long-term upward trend. Cardano’s integration with Bitcoin Ordinals and its evolution into a Bitcoin DeFi layer are also boosting positive expectations.
Additional catalysts include the upcoming Midnight airdrop and the Leos upgrade, which improves the network’s speed and scalability. In the short term, a decline to $0.65–$0.58 is possible, but analysts believe ADA could reach $10 in the next bull cycle.
Conclusion:
Although the ETF delay puts temporary pressure on ADA’s price, Cardano’s outlook remains solid. With a growing ecosystem, continuous technical upgrades, and shifting regulatory tides, the token has the potential to return to the spotlight — stronger than ever.
Frequently Asked Questions
Find answers to the most common questions below.
The SEC extended the review period to allow more time for public input and internal deliberation. The new deadline for a final decision is October 22, 2025.
ADA dropped 4% following the news, falling below $0.76. The delay interrupted bullish momentum but did not drastically alter long-term sentiment.
Several factors, including the Midnight airdrop, the Leos scalability upgrade, and renewed ETF optimism, could drive ADA’s price higher — potentially up to $10 in the next bull cycle.
This article is for general informational purposes only and is not intended to be, and should not be construed as, legal or investment advice. Crypto-assets are highly volatile, so only invest funds that you are willing to lose and use your own research and risk management.
