Can ADA rally to $1.20 despite SEC’s latest Cardano ETF delay?

Key Takeaways

The SEC has postponed its review of the Cardano ETF until the 26th of October, extending delays on multiple altcoin products. ADA, XRP, and PENGU continue to feel the pressure of regulatory delays.

The U.S. Securities and Exchange Commission (SEC) has once again paused its review of the proposed Cardano [ADA] exchange-traded fund (ETF).

It extended the decision deadline from the 27th of August to the 26th of October 2025.

The move adds Cardano to the growing roster of altcoin ETF applications facing regulatory delays, as the agency continues to take a cautious approach toward approving new crypto investment products.

If approved, the Cardano ETF would allow investors to access ADA through a regulated vehicle, eliminating the need to hold the cryptocurrency directly.

What do these delays tell us about the SEC?

The SEC’s latest delay has fueled speculation about how an eventual approval or denial could shape Cardano’s market trajectory.

In fact, BlackRock has not yet sought a Cardano ETF; its existing Bitcoin [BTC] and Ethereum [ETH] products have already attracted billions in inflows and lifted market prices.

If BlackRock pursued an ADA-backed product, the token could rally toward $1.20, based on Fibonacci extension levels.

For Cardano, the outcome of this review carried significant weight.

A greenlight would mark a major step in boosting ADA’s accessibility for mainstream investors through traditional brokerages.

On top of that, growing institutional recognition is already evident, with Cardano recently climbing in Grayscale’s asset rankings.

By contrast, a rejection would be a setback for Grayscale and other firms seeking regulated exposure to the cryptocurrency.

The SEC emphasized that the extension is intended to provide more time for a comprehensive evaluation of the proposal, echoing its cautious stance toward other crypto-related applications.

Needless to say, this is not an isolated case.

Other altcoin ETFs that are getting postponed

Alongside Cardano, the regulator has also delayed its decisions on the Canary PENGU and WisdomTree Ripple [XRP] ETFs, both of which are now slated for a ruling by the 12th of October.

By then, the SEC must either approve, reject, or initiate formal disapproval proceedings.

Markets react, but optimism flickers under Atkins

The ripple effects of the SEC’s cautious stance are already being felt in the market.

ADA slipped 5.15% to $0.8389, XRP dropped 1.73% to $2.91, and PENGU fell 5.59% to $0.03054 over the past 24 hours, according to CoinMarketCap.

Ripple’s August 2025 legal win cleared the way for new spot ETF filings from Grayscale and Franklin Templeton. Still, the path forward remained uncertain.

Under new SEC Chair Paul Atkins, and with crypto laws on the horizon, optimism for approval rose. Yet risks remained.