Cardano (ADA) Climbs to #3 in Grayscale Rankings as SEC ETF Decision Looms

Sean Williams
Cardano-ADA

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  • Cardano jumped to 3rd place in Grayscale’s weekly crypto rankings with a 6.3% gain.
  • The SEC is expected to decide on the ADA ETF by August, with a 75% chance of approval.
  • Founder Charles Hoskinson plans an audit release and may pursue defamation legal action soon.

Cardano (ADA) has surged to third place in Grayscale’s latest weekly crypto performance rankings, signaling renewed investor interest and optimism ahead of a potential U.S. SEC decision on the ADA ETF. The rising momentum around Cardano comes amid several key developments for the blockchain project and growing speculation about institutional adoption.

Cardano’s Strong Weekly Performance

Between July 31 and August 7, 2025, ADA posted a 6.3% weekly gain, pushing it up from ninth place the previous week to third in Grayscale’s “Top 10 Crypto Assets by Weekly Returns.” This marked a sharp rebound following an 8.1% decline the week prior. Although Cardano’s year-to-date growth has slowed to 6.8%, its market cap remains robust at $28.7 billion. Notably, ADA’s 3.48% price dip over the past 24 hours was smaller than the overall crypto market decline of 1.78%, indicating relative resilience.

The launch of Midnight, a privacy-focused protocol on Cardano’s network, has played a role in boosting community interest and market activity.

SEC ETF Decision Looms

The market buzz surrounding Cardano is largely driven by expectations that the U.S. Securities and Exchange Commission (SEC) will announce its decision on Grayscale’s proposed ADA ETF before the end of August. Recent regulatory clarifications, especially around staking not being classified as securities, have fueled optimism. Polymarket currently estimates a 75% chance of approval, though the SEC may delay its verdict until October 23.

Grayscale’s recent approval to convert major crypto funds—including Bitcoin, Ethereum, XRP, and ADA—into ETFs underscores the regulatory progress. An approved ADA ETF could significantly increase Cardano’s institutional adoption and market liquidity.

Also Read: Cardano (ADA) Nears Critical $0.84 Resistance as Bullish Momentum Builds

Ongoing Developments and Leadership Moves

Cardano founder Charles Hoskinson is set to release an audit report focused on Input Output Global’s 2021 ADA token management later this month. This report aims to address allegations against Hoskinson and restore confidence ahead of key market events like the ETF decision. He has also indicated potential legal action to counter defamation claims.

Cardano’s recent surge in Grayscale’s rankings combined with positive regulatory signals on the ADA ETF underscores a promising outlook for ADA investors. If the SEC approves the ETF, Cardano could experience greater institutional exposure and renewed market momentum, making it a critical month for the blockchain network.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses

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