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Home News Crypto

Cardano’s ADA Surges 11% on Grayscale’s Spot ETF Application

by Team Lumida
February 11, 2025
in Crypto
Reading Time: 2 mins read
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Key Takeaways:

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  • Cardano’s ADA token jumped 11% after Grayscale filed for the first-ever spot ADA ETF in the U.S.
  • The move reflects growing institutional interest in Layer 1 cryptocurrencies.
  • Bitcoin and ether remain stable, with Bitcoin attracting attention as a hedge against inflation.

What Happened?
Cardano’s ADA token saw an 11% surge after Grayscale Investments applied for the first spot ADA exchange-traded fund (ETF) in the U.S. The token rose to 80 cents, though it remains 36% below its December high of$1.37. Grayscale’s filing follows the successful launch of spot ETFs for Bitcoin and Ethereum, which have attracted billions in investments.

Why It Matters?
The surge in ADA highlights growing institutional interest in Layer 1 cryptocurrencies, with Cardano joining Bitcoin and Ethereum as a focal point for investors. The shift in market sentiment, with social media chatter favoring Layer 1 assets over meme coins, signals a more stable and sustainable market environment. Bitcoin, meanwhile, is gaining traction as a hedge against inflation, with over$196 billion in Bitcoin held by ETFs, companies, and nation-states.

What’s Next?
The SEC’s decision on Grayscale’s ADA ETF application will be closely watched, with potential implications for Cardano’s adoption. The broader market may see a continued shift toward Layer 1 assets, while Bitcoin’s positioning as a store of value could strengthen amid rising inflation and currency devaluation risks.

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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018