ADA Pumps 15% as Grayscale Cardano ETF Triggers Buying Frenzy

As Bitcoin (BTC) tested a key resistance level above $98,000, Cardano (ADA) wasn’t far behind, surging in tandem with the broader altcoin market. The large-cap altcoin, valued at around $35.7 billion in fully diluted terms, saw a sharp 15% jump in just 24 hours. With a daily trading volume of about $1.1 billion, ADA was trading near $0.79 on Tuesday, February 11, 2025, during the early European session.

The crypto market is recovering after two weeks of heavy liquidations in leveraged trading. Sentiment is improving, with Layer 1 (L1) blockchains like Toncoin (TON), Cardano (ADA), Solana (SOL), and Ethereum (ETH) leading the rebound.

Let’s dig deep.

Grayscale Files for a Spot Cardano ETF

Adding to the momentum, Grayscale Investments has officially filed for a spot Cardano exchange-traded fund (ETF) on the New York Stock Exchange (NYSE). The asset manager submitted its application to the U.S. Securities and Exchange Commission (SEC) to offer institutional investors exposure to ADA through shares backed by actual holdings.

The move to list the Grayscale Cardano Trust is likely influenced by the shift in U.S. leadership under President Donald Trump Donald Trump   Donald J. Trump is a US-based business tycoon,  pro-crypto politician, and 47th (present) President of the United States. He comprehends the significance and needs of the modern fintech world, and people look up to him as a dominant pro-crypto politician.   Once doubtful about Bitcoin's dominance, he said in a tweet in 2019, “I am not a fan of Bitcoin", but now has a significant amount of cryptocurrency holdings in his pool. He has also signed an Executive Order to establish a Strategic Bitcoin Reserve, which highlights his commitment to the future of cryptocurrency.   Quick Facts   Full name Donald John Trump Birth 14-06-1946, New York, United States Nationality American Education BS from the University of Pennsylvania Famous For Business, Politics   Donald Trump - Career Highlights & Events   2016 – Elected as the 45th President of the United States from the Republican Party.   2017 – Signed the Tax Cuts and Jobs Act, impacting investment environments   2019 – Slammed crypto king Bitcoin on X, calls it "not money".   2025 – A gala party was hosted by him for the top 220 Trump meme coin holders.   President . With more fund managers exploring altcoin ETFs, approvals in the next 12 to 24 months could bring significant liquidity into the altcoin market.

• Also Read :
•   Crypto Market Recovers After $6B Inflow, But Experts Warn of Volatility
• ,

What Next for Cardano?

After five weeks of bearish pressure, Cardano’s price is showing signs of a strong recovery. According to crypto analyst Ali Martinez, ADA must hold support between $0.67 and $0.81 to avoid further downside.

A successful rebound from the $0.81 level could push Cardano toward its all-time high above $3, marking a major breakout for the network and its investors.

The crypto market never stays quiet for long, and ADA’s latest rally is proof that the bulls are still in the game.