Grayscale Weighs Launching Cardano ETF with Potential SEC Approval

Grayscale is reportedly considering launching a dedicated Cardano ETF, known as 'GADA', which could potentially be approved by the SEC before October 2026. The approval process for spot crypto ETFs has been streamlined due to new generic listing standards introduced in September 2025.

The updated framework requires crypto assets to complete six months of CME futures trading before becoming eligible for a spot ETF review process. Cardano became eligible on August 9, 2026, after completing the required six months of CME futures trading. The SEC's 75-day review window remains in place, limiting the timeframe for the approval process.

Grayscale's increased exposure to Cardano in its Smart Contract Fund has also contributed to growing institutional confidence in the cryptocurrency. The fund now holds 18.33% of ADA, up from 17.96%, while Ethereum exposure was reduced by 1.06%. This signals a stronger preference for Cardano compared to competing smart contract platforms.