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11h ago

Cardano Builds Momentum as Grayscale’s Crypto 5 ETF Launches With ADA and SEC Ruling Nears

Prediction markets now price high odds of approval for a dedicated ADA ETF before the October 22 decision deadline.

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Overview

  • Grayscale converted its Digital Large Cap fund into the Grayscale CoinDesk Crypto 5 ETF, which holds Bitcoin, Ether, XRP, Solana and Cardano following SEC approval of the conversion.
  • OpenBank, Santander’s digital arm, rolled out ADA trading in Germany with Spain to follow, offering buy, sell and custody alongside stocks and bonds for over 2 million clients at a 1.49% fee and €1 minimum.
  • Polymarket odds for SEC approval of a spot Cardano ETF are reported around 87–89% ahead of the October 22 deadline, reflecting strong but not definitive expectations.
  • Reported market activity has jumped, with TapTools citing daily ADA trading volume above $2.5 billion as investors position around bank integration and the ETF timeline.
  • Technical analyses highlight a double-bottom at $0.5025, a break above the $0.865 neckline, an Ichimoku and moving-average uptrend, and a near-term resistance target near $1.3272 with invalidation near $0.83.