Published: January 14, 2026 | Tapbit ETF Insights
Grayscale’s spot Cardano ETF application, filed in February 2025, remains under active SEC review as of early 2026. The filing aimed to create the first regulated U.S. spot ADA ETF on NYSE Arca, but multiple delays have pushed back any final decision. This guide covers the current status, regulatory timeline, key hurdles, potential market impact on Cardano (ADA) price, and what investors should monitor in 2026.
Current Status of Grayscale Cardano ETF (January 2026)
Key facts about the filing:
- Filing Date: February 2025
- SEC Acknowledgment: February 24, 2025
- Proposed Ticker & Exchange: NYSE Arca
- Objective: Track the spot price of ADA via a regulated trust
- Current Status: Still in review – no final approval or rejection
The SEC has not issued any public decision, and the review process continues amid broader crypto ETF scrutiny.
SEC Review Timeline & Key Milestones
| Date | Milestone | Status |
|---|---|---|
| Feb 2025 | Grayscale submits S-1 filing | Completed |
| Feb 24, 2025 | SEC officially acknowledges filing | Completed |
| Aug–Oct 2025 | Initial 180–240 day review period (expected decision window) | Passed without decision |
| Oct 26, 2025 | Potential first extension deadline | Extended |
| Jan 2026 | Current status: Review ongoing | Active |
| 2026 (TBD) | Possible final decision window | Pending |
The SEC can extend review up to 240 days total — meaning a final decision could come as late as mid-to-late 2026.
Why the Cardano ETF Decision Is Taking So Long
Major regulatory concerns include:
- Market manipulation risk (Cardano’s staking & governance model)
- Custody & security of ADA tokens
- Investor protection & disclosure requirements
- Broader SEC caution toward altcoin ETFs beyond BTC & ETH
Despite Bitcoin & Ethereum spot ETFs being approved in 2024, altcoins face stricter scrutiny.
Potential Impact on Cardano (ADA) Price if Approved
Approval of a spot Cardano ETF would be a major catalyst:
- Institutional access via traditional brokers (no crypto wallet needed)
- Increased liquidity & mainstream adoption
- Historical precedent: BTC & ETH ETF approvals triggered significant rallies
- Potential short-term price boost on announcement
Current ADA price (Jan 14, 2026): ~$0.4257. Analysts see $0.50–$0.70 as realistic targets on approval.
2026 Outlook: When Could Cardano ETF Finally Launch?
Realistic scenarios:
- Optimistic (Q2–Q3 2026): SEC approves amid pro-crypto administration pressure
- Base Case (Late 2026–Early 2027): Extended review + possible revisions
- Bearish (2027+): Denial or indefinite delay due to market manipulation concerns
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Conclusion
Grayscale’s Cardano ETF filing from February 2025 remains under SEC review in January 2026 — no final decision yet, despite initial expectations for late 2025. Regulatory hurdles around custody, manipulation, and investor protection continue to delay progress. Approval would be a landmark moment for ADA and altcoin adoption; until then, expect continued uncertainty. Stay ahead of the news on Tapbit:
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Disclaimer: This article is for informational purposes only and does not constitute investment or legal advice. Cryptocurrency markets and regulatory decisions are highly volatile and subject to change.
