X account @Cardanians_io, which frequently shares Cardano 
ADAUSD updates and information associated to this blockchain, has tweeted that this week, the SEC is certain to announce a choice on the ADA ETF filed for by Grayscale fund managing firm.
Grayscale’s ADA ETF SEC deadline approaches
On Feb. 11 this yr, Grayscale Investments submitted an software to the U.S. Securities and Change Fee (SEC) for an approval to launch a spot ADA exchange-traded fund (ETF) and commerce it on the New York Inventory Change. Grayscale has additionally filed for ETFs powered by Solana and XRP.
The screenshot from the SEC doc acknowledging this submitting says that the choice shall be granted on Could 29, which is three days away from now. Subsequently, approval might properly happen this week.
🇺🇸 Grayscale’s Cardano $ADA ETF deadline for choice is that this week.
The SEC should approve, deny, or delay it by this Thursday, Could 29.
Do you suppose it’s going to get approval this week? pic.twitter.com/84o9lyLksJ
As reported by U.Today earlier, a Swedish wealth managing company Virtune launched a Staked Cardano ETP (VIRADAE) on Nasdaq Helsinki in early February, before Grayscale filed for its spot ADA ETF with the SEC.
The Virtune product offered ADA 1:1 physical support, cold storage security via Coinbase and a 2% yearly staking reward.
Cardano ETF sees 71% chance approval on Polymarket
Users on the prediction platform Polymarket seem to be rather optimistic about the odds of Grayscale’s ADA ETF approval.
Compared to May 15, when the bets reflected a 55% chance of that happening, by now, this figure has increased to 71% as more people are now confident about a regulatory green light happening this year. By May 15, the percentage value of investor confidence reflected on the platform had surged by 45%.
First XRP ETF launched
Last week, the first XRP futures ETF was launched by investment firm Volatility Shares on Nasdaq under the XRPI ticker. This even occurred on May 19, after the CME exchange released an XRP-based futures product too.
Prior to that, Tectrium rolled out the first XRP-powered product called Tectrium 2x Long Daily XRP ETF.
Ripple CEO Brad Garlinghouse, while taking part in the “Crypto in one minute” podcast last week, shared that crypto ETFs are “exciting,” since they are opening the doors wide for financial institutions to access crypto exposure and overall, he said, ETFs are making the crypto space more institutionalized. He reminded the audience that the Bitcoin ETF was the first ever asset to reach $1 billion and soon expects it to close in on gold ETFs.
