Could Cardano Reign Supreme in the Altcoin ETF Derby?

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Ah, the sweet scent of intrigue and speculation! The stage is set for a thrilling race, where our beloved crypto-contender, Cardano, vies for the golden ticket of ETF listings on the NYSE Arca.

Yes, my dear reader, the Grayscale Cardano Trust has filed the necessary regulatory form, aiming for the prestigious “GADA” ticker. As top analyst Eric Balchunas observes, this could be the first of its kind in the U.S.

With a staggering 60 ETF proposals already flooding the SEC this year, one wonders if this new administration is harboring a secret love for acronyms and paperwork.

A Cardano ETF with a twist of leverage!

Tuttle Capital Management, known for its unconventional proposals, has thrown its hat into the ring with a 2X Cardano Leverage ETF. A delightful concoction that promises to double the performance of the ADA token!

This is the same firm that attempted to launch an alien tech ETF, investing in companies with potential exposure to extraterrestrial technology. While the idea is as exciting as a sci-fi novel, the firm admits that such investments are “highly speculative” and the product’s future looks uncertain.

Approval odds: A cryptic game of chance

Bloomberg’s Eric Balchunas recently disclosed the current approval odds for various altcoin ETFs. Litecoin leads the pack with a 90% chance, while XRP lags behind at 65%.

Alas, Cardano’s odds remain shrouded in mystery, but one can speculate that they’d be closer to 60%. After all, ADA was mentioned in the SEC’s lawsuits against several exchanges. Scandalous, isn’t it?

Meanwhile, on the Nasdaq…

CoinShares has filed regulatory forms for Litecoin and XRP products. Analyst Nate Geraci predicts a flurry of ETF proposals in the near future. Oh, what a time to be alive!

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2025-02-11 10:46