Cardano Price Surges, Aiming for $1.32 Barrier as ETF Approval Odds Rise to 63%

Cardano (ADA) is showing strong price momentum, potentially exceeding the $1.32 barrier as investor confidence in a spot Cardano exchange-traded fund (ETF) approval from the U.S. Securities and Exchange Commission (SEC) increases. The odds now stand at 63%, fueled by increasing institutional interest and a technical setup suggesting a potential surge of up to 75%. This comes after Grayscale’s recent filing for a Cardano spot ETF, which has garnered attention from regulators. 21Shares also stands out with their ADA exchange-traded product (ETP) managing over $72 million in assets, further highlighting institutional interest in the cryptocurrency.