Two Cardano ETFs Might Set Stage for ‘Uptober’ ADA Rally: Details

With just one day left in September, the cryptocurrency market, including the Cardano community, highlights expectations for October.

The spotlight is on the potential approval of spot Cardano ETFs, with two applications waiting in line for final verdicts following a 75-day review process.

Grayscale’s proposal to convert its Cardano trust into a Spot ETF faces its final deadline on Oct. 7, 2025, while Tuttle Capital’s Cardano ETF application’s decision is anticipated by Oct. 26, 2025.

Market sentiment remains positive, with approval odds reaching 92% on major betting platforms.

October is set to be significant for the broader altcoin market, with decisions expected on 16 ETF applications, including Solana, XRP, Dogecoin and Litecoin.

Cardano-focused community X account Cardanians highlights the upcoming ETF development in a tweet, adding that it could be the catalyst that propels Cardano into its next phase of growth.

Wild “Cointober?”

Nate Geraci, the president of NovaDius Wealth Management, indicated the next few weeks as “enormous”  for spot crypto ETFs, with SEC final deadlines approaching on numerous filings.

To begin with, this week is the Canary Spot Litecoin ETF, with its decision deadline on Oct. 2. This will be followed by decisions on Solana, Dogecoin, XRP, Cardano and Hedera ETFs; Geraci noted that the SEC could approve any or all of these whenever.

In another tweet, Bloomberg ETF analyst Eric Balcunas shared his expectations for October as spot crypto ETF deadlines begin this week: “Who’s ready for Cointober? Spot crypto ETF deadlines start this week. Litecoin and Solana up first. Should be a wild month.”