The U.S. Securities and Exchange Commission has pushed back its decision on the proposed Cardano (ADA) exchange-traded fund. The deadline, initially set for August 27, now moves to October 26, 2025. This extension keeps ADA investors in suspense and prolongs uncertainty over regulated access to the altcoin. The SEC stated it requires additional time to examine the proposal thoroughly. Officials said they must weigh the ETF against evolving standards for crypto-based investment products. The move reflects a familiar pattern, as the agency has delayed reviews of several altcoin ETF filings in recent years.
Market Reacts with Pressure on Prices
Markets quickly responded to the delay. Cardano fell 5.15% to $0.8389 within 24 hours of the announcement. Ripple’s XRP also slipped 1.73% to $2.91, while Canary PENGU lost 5.59% to $0.03054. Data from CoinMarketCap shows these declines came more from short-term risk-off sentiment than from deep changes in investor conviction.
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The SEC also postponed rulings on the Canary PENGU ETF and the WisdomTree Ripple (XRP) ETF. Both will now face new deadlines on October 12, 2025. Each extension halts immediate approval or rejection, leaving issuers and investors waiting as regulators continue their assessment.
Institutional Demand Remains Strong
Despite delays, institutional appetite for crypto ETFs continues. Spot Bitcoin and Ethereum ETFs have already drawn significant capital. However, the SEC’s cautious stance means altcoins like Cardano will likely wait longer for inclusion.
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A regulated Cardano ETF would let investors gain exposure to ADA through traditional brokerage accounts. This structure would simplify custody, compliance, and reporting for institutions while offering safer entry points for retail investors.
The delay highlights the SEC’s careful approach to altcoin ETFs and signals ongoing caution toward broader crypto adoption. Investors should prepare for volatility as deadlines approach, monitor official SEC updates, and consider regulated alternatives such as Bitcoin and Ethereum ETFs in the meantime.
