The Cardano (ADA) community is rife with excitement as rumors of a potential Cardano exchange-traded fund (ETF) swirl. This speculation follows the recent launch of Ethereum ETFs in the US, a major step forward for cryptocurrency acceptance.
Cardano Founder Adds Fuel to the Fire
Charles Hoskinson, the mastermind behind Cardano, recently responded to a tweet from Tap Tools, a Cardano-based platform for tracking tokens, NFTs, and wallets. The tweet playfully inquired, “Is the ADA ETF up next?”
Hoskinson’s reply, a GIF captioned “Fine, I’ll do it myself,” sent the ADA community into a frenzy. While lighthearted, his response has been interpreted as a hopeful sign for a potential Cardano ETF launch.
The arrival of Ethereum ETFs in the US represents a significant development for the crypto market. It provides professional investors and advisors with a more traditional way to invest in the world’s second-largest cryptocurrency. A Cardano ETF would offer similar benefits, opening up new avenues for investors to engage with the ADA token.
Chang Hard Fork on the Horizon
In related news, Intersect, a Cardano ecosystem membership organization, provided an update on the DRep Pioneer Program as preparations for the upcoming Chang hard fork ramp-up.
The Chang upgrades, slated for August 2024, are expected to be transformative for Cardano, marking a crucial step in its development roadmap. To date, 247 Cardano community members have completed DRep onboarding in anticipation of Chang.
Hoskinson’s Engagement Fuels Optimism
Hoskinson’s interaction with the community has further stoked the flames of speculation. When a community member inquired about securing a reputable stablecoin with easy on/off ramps for Cardano through an exchange that would also list Cardano native tokens, Hoskinson responded with another GIF, seen as a positive sign for a potential Cardano ETF.
The potential launch of a Cardano ETF would be a major win for the ADA community, offering investors a new and potentially more regulated way to participate in the project. While there’s no official confirmation, Hoskinson’s responses have ignited hope for an upcoming Cardano ETF.
With the Chang hard fork on the horizon and the possibility of a Cardano ETF, the Cardano ecosystem appears poised for a period of significant growth and development.