- Cardano surged to 3rd place in Grayscale’s top 10 weekly crypto asset rankings after a 6.3% gain.
- SEC’s decision on the ADA ETF is expected before the end of August, with 75% approval odds according to Polymarket.
- The launch of Midnight, a privacy-focused protocol, has boosted ADA’s momentum.
- Founder Charles Hoskinson will release an audit report this month addressing past allegations.
Cardano Climbs in Grayscale Rankings Ahead of August ETF Decision
Cardano (ADA) has made an impressive leap in Grayscale’s “Top 10 Crypto Assets by Weekly Returns” list, moving from ninth to third place in just a week. This comes as the crypto market eagerly awaits the U.S. Securities and Exchange Commission’s (SEC) decision on a proposed ADA ETF, expected before the end of August.
Cardano Takes 3rd Place in Weekly Performance Rankings
Grayscale’s latest rankings show Cardano climbing to third place after recording a 6.3% weekly gain between July 31 and August 7, 2025. This marks a sharp recovery from the prior week’s 8.1% loss, which had pushed ADA to ninth place.
Despite this boost, ADA’s year-to-date gains stand at 6.8%, with a market capitalization of $28.7 billion. Over the past day, ADA’s price slipped 3.48%, compared to a 1.78% drop in the broader crypto market.
Also Read: Cardano’s (ADA) Latest: Enhancing Core Tech and Performance Benchmarks
A key driver of this rebound is the successful launch of Midnight, a privacy-focused protocol built on the Cardano network that has attracted considerable community attention.
XRP topped the weekly rankings with a 9.7% gain, followed by Stellar in second place. Dogecoin, Ethereum, Tron, and Solana occupied the next positions, while Bitcoin delivered a more modest 1.5% gain.
ADA ETF Decision Expected by End of August
Optimism is running high as analysts predict the SEC will respond to Grayscale’s ADA ETF application before the month ends. Regulatory clarifications that certain staking activities are not considered securities have further bolstered sentiment.
According to Polymarket, the ADA ETF currently has a 75% chance of approval. However, the SEC could still delay its final decision until October 23.
This follows the SEC’s recent approval for Grayscale to convert its Bitcoin, Ethereum, XRP, and ADA large-cap fund into ETFs — a move seen as a strong precedent for the ADA ETF.
Hoskinson’s Audit Report to Address Token Allegations
Adding to August’s big events, Cardano founder Charles Hoskinson is expected to release an audit report later this month. The review examines Input Output Global’s (IOG) 2021 ADA token management amid past allegations of token theft. Hoskinson has indicated that a defamation lawsuit may follow after the audit is made public.
Also Read: Charles Hoskinson Predicts 1000X for Cardano, Just 10X for Bitcoin
Outlook
If the SEC approves the ADA ETF, Cardano could see increased institutional exposure and renewed market momentum. With its growing position in industry rankings, fresh protocol launches, and strong community backing, ADA is poised for a potentially pivotal month.