Cardano ETF Acknowledged By SEC: ADA To $2 Soon?

The US SEC acknowledged Grayscale’s Cardano (ADA) ETF exertion filed by the New York Stock Exchange. The SEC acknowledged the filing according to a Monday, Feb. 24 release. The improvement is alternatively bullish and could pb to a emergence successful capitalist sentiment for ADA.

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Cryptocurrency Market Takes Major Beating

Source: Watcher Guru

The cryptocurrency marketplace took a monolithic dip connected Tuesday aft the US announced it would determination guardant with its tariffs for Canada and Mexico. Cardano (ADA) and each large crypto plus is trading successful the reddish portion today. Market participants person go weary. Many investors expect the tariffs to negatively interaction prices and inflation. The Federal Reserve has paused involvement rates but is yet to denote a complaint chopped for 2025.

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ADA is down 12% successful the regular charts, 28.2% successful the play charts, 19.8% successful the 14-day charts, and 34.8% implicit the erstwhile month. The plus has maintained immoderate gains successful the yearly charts, rallying 8.5% since February 2024.

Source: CoinGecko

Can Cardano Hit $2 Post ETF?

An ETF support could crook the tide for Cardano (ADA). Bitcoin (BTC) deed an all-time precocious aft the SEC approved 11 spot BTC ETFs successful January 2024. BTC’s rally trickled into the larger crypto market.

There is besides a anticipation that ADA volition not rally aft an ETF approval. The SEC besides approved Ethereum (ETH) ETFs past year. Unlike Bitcoin (BTC), the ETH ETFs did not bash overmuch to propulsion the underlying asset’s price.

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There is simply a precocious probability that the SEC volition o.k. respective crypto-based ETFs successful 2025. The caller US medication is rather bullish connected the crypto industry. President Trump has besides said that helium wants the crypto manufacture to thrive successful the US. The caller absorption could greenlight respective ETFs, including a spot ADA ETF.