
The U.S. Securities and Exchange Commission (SEC) is reviewing multiple crypto spot ETF applications. After it approved the generic listing standards in September, the odds of approval have surged. Now, crypto asset management funds are awaiting their approval for Solana, XRP, Dogecoin, and Cardano ETFs.
Grayscale Cardano Trust
Tuttle Capital 2X Cardano ETF
In mid-2025, the Commission said it required more time to review the application thoroughly before approving. This was the prime reason for delaying the applications. But now that the deadline has reached its final date, the US government shutdown has led the agency to operate with limited staff. This has caused more delay in the crypto ETFs.
Many experts showed their enthusiasm as the ETF applications neared their final deadline in October. But since the government announced the shutdown, they advised the crypto users to buckle up for more delays.
President at NovaDius Wealth Management, Nate Geraci said, “Looks like a prolonged government shutdown would definitely impact the launch of new spot crypto ETFs. ETF Cryptober might be on hold for a bit. From the SEC’s “Operations Plan Under a Lapse in Appropriations & Government Shutdown.”
No, a Cardano ETF is not yet approved. The SEC is currently reviewing multiple applications, with final deadlines set for October 2025.
The SEC has cited needing more time for review. A recent U.S. government shutdown has further delayed the process by forcing the agency to operate with limited staff.
The final deadlines for key Cardano ETF applications are in October 2025, though these dates could be subject to further delays by the SEC.
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