As we enter the last quarter of 2025, Cardano (ADA) is at a very important point in the cryptocurrency market. This could make it possible for spot ADA ETFs to be available by the end of October. Grayscale’s spot ETF application for ADA is now waiting for a decision on its S-1 registration by October 26. For Grayscale’s ADA ETF, the withdrawal meant putting the phase of changing the exchange rules on hold, which pushed back the deadline and fueled stories of regulatory interference. This optimism is shown in prediction markets: There is a 90% chance that the ADA ETF will get the go-ahead by the end of the year, up from 65% before the changes.