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 entrepreneur, Pro-crypto Politician, and the 45th and 47th President of the United States of America. He understands the importance and needs of the modern fintech world, and people look up to him as a dominant pro-crypto leader.   Quick Facts   Full name Donald John Trump Birth 14-06-1946, New York, United States Nationality American Education BS from the University of Pennsylvania Known For Businessman, Pro-Crypto Politician   Once doubtful about Bitcoindominance, 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 kitty. He has also signed an Executive Order to establish a Strategic Bitcoin Reserve, which highlights his commitment to the future of cryptocurrency.   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 – Criticized Bitcoin and Libra on X, dubbing them as "not money"   2024 – Campaign signals potential openness to crypto-friendly reforms   2025 –  Elected as the 47th President of the United States from the Republican Party.   A meme coin, $TRUMP, is associated with Donald Trump, which is listed on the Solana blockchain platform. His family also backs World Liberty Financial (WLF), a crypto venture.     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.