Grayscale Files for Cardano ETF – ADA Surges 15% Amid Bullish Outlook

Grayscale has officially filed for a Cardano ETF, marking its first standalone ADA investment product. This move comes as institutional interest in Cardano grows, following the approval of Bitcoin ETFs in the U.S.

Since the filing, Cardano’s price has surged by 15%, currently trading at $0.80. However, ADA remains 74% below its all-time high of $3.10, which it reached in September 2021.

Analyst CryptoBullet Predicts $1.80 as ADA’s Peak This Cycle

While the ETF filing has fueled bullish sentiment, crypto analyst CryptoBullet remains skeptical about Cardano reaching a new all-time high this cycle. According to his macro analysis:

ADA Price Targets (CryptoBullet):

• Target 1: $1.15
• Target 2: $1.80

$ADA Macro chart | No new ATH for ADA!

I think the highest #ADA can go this bull cycle is the 0.786 Fib level, so I wouldn’t bet on it.
Better buy something new imo

🎯 Macro Target 1 – $1.15
🎯 Macro Target 2 – $1.80 pic.twitter.com/IDHfbYhFq3

— CryptoBullet (@CryptoBullet1) June 28, 2024

CoinCodex Price Prediction: More Conservative Than CryptoBullet

At CoinCodex, our price outlook is closely aligned with CryptoBullet’s prediction—if not slightly more conservative.

• February 2025: ADA surpasses $1
• May 2025: ADA reaches $1.50

Unlike overly bullish forecasts, we expect ADA to peak below $1.80, given historical price action and market structure. While ETF momentum and institutional interest could provide upside, ADA remains unlikely to break its 2021 all-time high this cycle.

Our outlook is closely aligned with CryptoBullet’s analysis, suggesting ADA is likely to peak below $1.80 this cycle. Given historical price action and market structure, we see ETF momentum and institutional interest driving further gains, but ADA remains unlikely to break its 2021 all-time high of $3.10 in this bull run.

Charles Hoskinson on Cardano’s Future: “Greatness Comes from Integrity”

Cardano’s founder, Charles Hoskinson, remains highly optimistic about the project’s future. In a recent statement, he reaffirmed his confidence in Cardano’s ability to evolve and succeed:

JUST IN: Charles Hoskinson says “there’s no problem we can’t solve, no roadmap we can’t adapt, no strategy we can’t execute. Greatness comes from the integrity to be honest, the courage to be disliked, the ability for tough conversations, and still push forward.” #Cardano $ADA pic.twitter.com/DzKv9nSEK0

— Angry Crypto Show (@angrycryptoshow) February 10, 2025

Final Thoughts: Will ADA Keep Climbing?

The Grayscale Cardano ETF filing marks a major step toward institutional ADA adoption, fueling short-term price momentum. However, analysts remain divided on how high Cardano can climb this cycle:

• CryptoBullet sees $1.80 as the ceiling for ADA.
• CoinCodex predicts $1.50 by May.
• Hoskinson remains confident in Cardano’s long-term vision.

The Grayscale Cardano ETF filing marks a major step toward institutional ADA adoption, fueling short-term price momentum. Analysts are aligned in their outlook, agreeing that while ADA is set to gain in the short term, it is unlikely to surpass its 2021 all-time high of $3.10 this cycle.

Source: https://coincodex.com/article/62811/grayscale-files-for-cardano-etf-as-ada-surges-15/