Crypto analyst Eilert has revealed that Grayscale Investments could roll out a dedicated Cardano spot ETF, dubbed “GADA,” as early as October 23, 2026. The timeline hinges on new generic listing standards approved by the SEC in September 2025, which allow crypto assets to enter a streamlined ETF review after six months of CME futures trading.
Cardano ETF Timeline Breakdown
CME ADA futures began trading on February 9, 2026. Under the updated framework, ADA becomes eligible for the simplified approval process on August 9, 2026. If Grayscale or NYSE Arca files the 19b-4 application on that date, the SEC has a maximum 75-day review window, pushing the final decision deadline to October 23, 2026. GADA would not be a brand-new fund but a conversion of Grayscale's existing Cardano Trust, which already holds ADA, potentially giving the ETF better initial liquidity.
Even with the faster path, the SEC must still evaluate market safety and anti-manipulation measures. Meanwhile, other firms including Bitwise and Canary Capital are also pursuing Cardano ETFs, suggesting late 2026 could see multiple ADA ETF launches.
Grayscale Raises ADA Stake, Trims Ethereum
Grayscale's Smart Contract Fund has increased Cardano exposure, according to data from analytics platform Atrium Lab and community member Dave. The fund's ADA allocation rose from 17.96% to 18.33%, while Ethereum exposure was cut by 1.06%. Although the shift is small, the continued increase in ADA alongside a reduction in ETH signals growing institutional preference for Cardano among smart contract platforms.
ADA Price: Break Above Descending Trendline
On the price front, Cardano has rebounded from recent lows and broken above a multi-month descending trendline. CoinGlass liquidation data shows heavy liquidity clusters in the $0.28–$0.30 zone, which could trigger stronger volatility if bullish momentum persists. The market remains volatile, and ADA's ability to sustain gains will likely depend on further ETF-related catalysts and broader crypto sentiment.