Grayscale's spot Cardano ADA ETF is still awaiting SEC approval. The regulatory review process continues, with market participants now anticipating a decision sometime in early 2026. This approval could be a significant milestone for Cardano's institutional adoption. The crypto community remains optimistic about the possibility of favorable regulatory movement in the near term, particularly as the SEC evaluates whether spot ADA ETF products meet compliance standards. Such an approval would mark another step forward for major altcoins seeking mainstream financial infrastructure.