The post Cardano ETF Delayed Again by SEC, ADA Price Dips 4% appeared first on Coinpedia Fintech News
In yet another ETF delay, the US SEC has hit a pause on Grayscale’s spot ETFs for Cardano and Avalanche. The decision date is now pushed from May 29 to July 13, and the final deadline for the ruling is on October 22, 2025.
Cardano slipped 4% and AVAX dropped over 2% after the news. A favorable decision was expected to push ADA past the $0.80 mark. However, the delay could now negatively impact the price. The MACD and short-term averages indicate selling pressure, but the long-term outlook is still positive for ADA.
Traders on Polymarket are still positive, as it shows a 67% chance of a Cardano ETF approval by the year-end. The community is not surprised, as some see these setbacks as buying opportunities. They say that the regulators may slow the process, but they cannot stop the technology or the believers who keep accumulating.
Grayscale filed for the Cardano Trust listing with NYSE Arca in February 2025, then updated the proposal for public feedback. The SEC had 45 days to decide, but pushed the deadline from April 14 to May 29, and now it’s delayed again.
However, Cardano is back on eToro’s trading platform as it joined 12 other cryptocurrencies. This comes after eToro paid a $1.5 million fine to the SEC, settling issues that caused ADA to be delisted in 2021.
SEC Keeps Delaying ETFs
The agency is currently on a streak of delaying spot crypto ETFs, which has cooled off investor sentiment. The CoinShares spot XRP ETF is the latest to face a setback. Just last week, the SEC pushed back decisions on XRP and DOGE ETFs to June 17.
ADA To Reach $10?
ADA is currently trading at $0.754, down 0.3% in the past day. Analysts believe Cardano is showing signs of entering a major bullish phase, fueled by its integration with Bitcoin Ordinals and emerging as a Bitcoin DeFi layer. Key catalysts include the upcoming Midnight airdrop and the recent Leos upgrade, which boosts Cardano’s speed and scalability.
While a short-term dip to the $0.65–$0.58 range is possible, weekly indicators like the MACD and risk models indicate that ADA could reaching $10 in the next bull cycle.