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The Cardano (ADA) community is currently abuzz with speculation about a potential Cardano exchange-traded fund (ETF). The speculation was sparked by a recent X post by Tap Tools, a token, NFT and wallet tracking platform on the Cardano blockchain.
The tweet posed the question, “Is ADA ETF up next?” alongside an image featuring a checklist with Bitcoin and Ethereum ETFs struck out, leaving only Cardano ETF.
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This speculation comes on the heels of a significant milestone for the crypto market: the launch of Ethereum ETFs in the United States. In a remarkable milestone, Ethereum exchange-traded funds officially began trading in the U.S. on Tuesday, putting the world’s second-largest cryptocurrency into a vehicle preferred by professional investors and advisors.
The tweet from Tap Tools caught the attention of Cardano’s founder, Charles Hoskinson. He responded with a GIF image reminiscent of a superhero, captioned, “Fine, I’ll do it myself.” This playful-yet-assertive response ignited further discussion within the ADA community.
One community member, drawn by Hoskinson’s engagement, replied, “If you are going to do it yourself, can you also secure a real stable coin for Cardano with liquidity and an on/off ramp by partnering with an exchange that will also list Cardano native tokens?” In response, Hoskinson posted another GIF, this time with the caption, “Yes.”
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Hoskinson’s remarks, although they might seem playful, serve as a harbinger of hope to some in the ADA community regarding the potential of a Cardano ETF, as similar Ethereum vehicles began trading in the United States.
Latest Chang hard fork update
Intersect, a member-based organization for the Cardano ecosystem, has shared an update on the DRep Pioneer Program as preparations for the Chang hard fork get underway.
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The Chang upgrades, the first anticipated to occur in August 2024 (assuming community preparation), are poised to be transformative events for Cardano and represent a critical milestone in its upgrade timeline.
According to Intersect, 247 members of the Cardano community have completed DRep onboarding in anticipation of the Chang upgrade.
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