SEC Delays Grayscale’s Cardano ETF Decision to October 26 - Here’s What It Means

Regulatory limbo strikes again—Grayscale's Cardano ETF gets pushed to October as the SEC kicks the can down the road.

Timeline Tension

The wait continues for ADA enthusiasts. No new data, no fresh insights—just another date circled on the calendar. October 26 now marks the next potential turning point.

Market Reactions

Traders shrug. Institutions yawn. Another day, another delay—because why approve innovation quickly when you can form another committee to discuss forming a committee?

Looking Ahead

Will October bring clarity or just another postponement? Only the SEC’s magic 8-ball knows for sure—and it’s probably out for lunch until 2026.

TLDR

• SEC delays Grayscale’s Cardano ETF decision, pushing it to October 26.

• Cardano (ADA) price faces pressure as ETF delays impact investor sentiment.

• ADA price tests critical support at $0.82 amidst growing regulatory uncertainty.

• Grayscale’s Cardano ETF could significantly improve institutional access to ADA.

The U.S. Securities and Exchange Commission (SEC) has extended its decision on the Grayscale Cardano ETF, pushing the final deadline to October 26, 2025. Originally set for August 27, this delay has created uncertainty for ADA holders and investors looking to gain exposure to Cardano through a regulated vehicle. Grayscale filed the proposal in February, aiming to list ADA on traditional exchanges, where it could be traded like stocks or other commodities.

The ETF WOULD allow institutional and retail investors to gain exposure to ADA without needing to purchase and store the token directly. Grayscale has argued that listing ADA on public exchanges would bring more transparency, better pricing, and greater accessibility for investors. However, the SEC wants more time to ensure the product meets the necessary standards for investor protection and market structure.

ADA Price Struggles Amid Cardano ETF Delays

The delay has coincided with weak sentiment in the Cardano market, where ADA price is currently testing critical support at $0.82. Recent price action shows a converging triangle pattern, with ADA trading between $0.82 and $0.84.

While the price has bounced slightly above these levels, the uncertainty surrounding the ETF decision has weighed on investor confidence.

As ADA sits NEAR the $0.82 support level, market participants are split on whether the price will rebound or break lower. Some analysts point to the ascending triangle pattern and suggest that a break above the resistance at $0.86 could lead to a short-term recovery. However, if the $0.82 support fails, ADA could drop toward $0.77, marking a more severe correction.

The ongoing delays from the SEC have added pressure to ADA’s price trend. The market’s nervousness about regulatory approval reflects in the low trading volume and weakening bullish momentum. ADA is trading within a descending channel, which has capped its upside attempts. The recent bounce to $0.86 was insufficient to break the upper trendline, and the lack of buying volume has prevented a sustained recovery.

SEC Delays Other ETF Proposals: Canary PENGU and WisdomTree XRP

In addition to the cardano ETF, the SEC has also delayed its decision on the proposed Canary PENGU and WisdomTree XRP ETFs.

Both decisions are now set to be reviewed by October 12, 2025. These delays reflect the SEC’s ongoing caution in approving cryptocurrency-based ETFs, particularly when the regulatory landscape is still evolving.

Canary PENGU was filed by Cboe BZX Exchange, seeking approval for a commodity-based trust. Similarly, WisdomTree’s XRP ETF proposal is under review, with the SEC indicating that it needs more time to assess these products. As with the Cardano ETF, the SEC cited the necessity to further examine concerns surrounding market structure and investor protection.