Cardano (ADA) is gaining more institutional interest in the broader financial space. According to an update shared by renowned Cardano ambassador Lucas Macchiavelli on X, Volatility Shares has updated its filing with the U.S. Securities and Exchange Commission (SEC) on its plans for ADA.
Cardano ETF filing highlights rising institutional interest
Notably, Volatility Shares is a financial firm with over $7 billion in assets under management for investors. As per the filings with the U.S. SEC, the firm plans to launch three Cardano exchange-traded funds (ETFs).
Volatility Shares proposes to launch a spot Cardano ETF, a 2x Leveraged Cardano ETF and a 3x Leveraged Cardano ETF. All three products will trade on NYSE Arca, which lists many ETF products, allowing traditional investors to gain exposure to crypto.
The three different products could appeal to different sets of investors. The spot Cardano ETF would directly track the actual price of ADA on the market. When there are upward or downward fluctuations, the ETF will mirror these movements. Investors consider this a "straightforward" and conservative crypto ETF type.
Volatility Shares, which manages $7B+ in AUM, has filed updated documents with the U.S. Securities and Exchange Commission to advance three #Cardano ETF products.
The lineup includes a spot Cardano ETF, plus 2× and 3× leveraged $ADA ETFs, all targeting a listing on NYSE Arca. pic.twitter.com/HIG2vVbK9w
The 2x Leveraged Cardano ETF is meant to deliver twice the risk/reward in the daily price movement of ADA. So, on days that Cardano soars by 6%, this ETF will yield 12%. The same principle applies in cases of price decline.
The 3x Leveraged Cardano ETF delivers three times the daily profit and loss of ADA. It presents higher risks and volatility, but it is preferred by experienced short-term traders.
This move by Volatility Shares implies that traditional investors will soon gain access to Cardano without directly holding or buying the crypto asset. This signals growing institutional interest in Cardano, which could increase the coin’s visibility and legitimacy in the traditional finance space.
It is likely to drive more liquidity into Cardano and boost the ADA price outlook in the long run. The application filed now awaits approval from the U.S. regulatory body.
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Cardano’s price outlook
Volatility Shares filing adds to the growing list of applications before the U.S SEC. In 2025, Grayscale’s Cardano Trust filed the 19b-4 application, but it remains under review by the regulatory authority. The asset manager currently awaits a possible decision that would give the green light on its filing.
On the crypto market, Cardano, as of press time, was trading at $0.2990, up 4.04% over the last 24 hours. The coin previously hit $0.3027, suggesting potential for more upside given that it has hit oversold territory.
Cardano’s trading volume remains in the red zone, down 33.26% and pegged at $643.1 million. A spike in volume could result in a further price uptick, given the surge in Cardano’s open interest.
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