Cardano ETF Bets Surge to 55% as Airdrop Hype Builds
Highlights
- Cardano ETF approval odds on Polymarket surged to 55%, gaining 45% in recent weeks.
- Charles Hoskinson unveiled the Glacier Drop at Consensus 2025 targeting 37M retail wallets.
- The Midnight network promotes cross-chain privacy and VC-free token distribution.
According to prediction market Polymarket, the chances of a Cardano ETF being approved in 2025 have climbed to 55%. Traders have pushed “Yes” shares up to $0.68, signaling rising confidence in the altcoin’s potential path to becoming an exchange-traded product.
Cardano ETF Odds Rise to 55%
The current odds of Cardano ETF approval represent a 45% increase over recent weeks. Grayscale has already filed for a Cardano ETF and with the rising odds of an approval, other asset managers may move to file on too.
Cardano has been slower than Bitcoin and Ethereum in attracting ETF momentum. However, a sharp focus on sustainability, decentralization, and new utility could change that, especially after the network’s latest announcements at Consensus 2025.
All Retail No VC: Glacier Airdrop Boosts Cardano ETF Bets
Speaking at the event, Cardano founder Charles Hoskinson revealed full details of the long-awaited Glacier Airdrop, tied to the upcoming Midnight sidechain.
Midnight will issue two tokens which are NIGHT for governance and DUST for privacy-based transactions. These tokens will be issued to over 37 million wallets across eight blockchains. Hoskinson emphasized that venture capitalists will receive nothing and he went on to call the typical token launches “Ponzinomics.”
“Get the hell out,” he said, recalling how he turned down VC offers.
He said the tokens will be unrestrictive: users can keep, sell, or ignore them. “It’s your property,” he told the audience.
Midnight’s Cross-Chain Model Improves Cardano’s Case
Midnight is currently in testnet and is expected to go live by the end of 2025. Its architecture is built for cooperative economics which helps developers to pay fees in their native tokens. These tokens such as, ETH, SOL, BTC, or ADA allow validators from any chain to earn rewards by helping secure the network.
Charles Hoskinson said they designed Midnight to “end tribalism” in crypto and serve as infrastructure, not competition, for existing ecosystems. Analysts suggest this neutral design and user-first tokenomics may strengthen Cardano ETF viability in the eyes of regulators.
Meanwhile, Midnight’s ZK privacy tech is already gaining utility. The Cardano founder revealed that Brave Ads and VPN plan to integrate it, giving their million users next-level protection.
The Cardano (ADA) price is currently trading at around $0.78 and is above a key resistance level. The token has seen modest gains over the past 24 hours because of the positive sentiment around the Cardano ETF. A CoinGape market analysis indicated that the key is for ADA to break above the $0.80 mark, as this would signal renewed bullish momentum.
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