Key Takeaways
- Prediction markets now assign a 55% chance for a Cardano ETF approval, up sharply from previous weeks.
- At Consensus 2025, Hoskinson introduced the Glacier Airdrop targeting over 37 million retail wallets.
- The upcoming Midnight sidechain focuses on privacy and avoids venture capital involvement in token distribution.
On Polymarket, traders have been increasingly betting that a Cardano ETF will gain regulatory approval this year, driving “Yes” shares to nearly 70 cents, reflecting growing optimism about Cardano’s potential as an exchange-traded product.
The jump in approval odds reflects a roughly 45% increase over recent weeks. While there’s no official ETF filing yet, industry observers believe rising institutional interest and a more favorable regulatory environment for altcoins are major factors behind this surge.
Though Cardano has lagged behind Bitcoin and Ethereum in ETF momentum, its emphasis on sustainability, decentralization, and novel utilities is starting to capture attention—especially after the recent updates shared at Consensus.
Glacier Airdrop: Retail Investors Take Center Stage
Hoskinson used the conference to unveil full details about the Glacier Airdrop, which will distribute tokens through the Midnight sidechain to a wide audience. Two new tokens will be issued: NIGHT, which governs the network, and DUST, designed for privacy-centric transactions.
The tokens will reach over 37 million wallets spanning eight different blockchains. Notably, venture capitalists will be excluded from this distribution, a move Hoskinson described as a rejection of typical “Ponzinomics” seen in many token launches.
“Get the hell out,”
he said, referring to offers from venture capitalists he declined.
He stressed token holders have complete freedom to keep, trade, or ignore their airdropped assets.
“It’s your property,”
he told attendees.
Midnight Sidechain Could Strengthen Cardano’s ETF Case
Currently in testnet, Midnight is planned to go live by the end of this year. Its design supports cross-chain fees, allowing developers to pay in tokens native to their networks—whether ETH, SOL, BTC, or ADA. Validators across these chains can earn rewards for securing the system.
Hoskinson described Midnight as a way to “end tribalism” within the crypto community, positioning it as infrastructure rather than a competitor to existing platforms. Experts believe this neutral and user-focused approach could enhance Cardano’s appeal to regulators evaluating ETF applications.
At the time of writing, ADA is trading around $0.77, recently breaking through a significant resistance level. Positive ETF-related sentiment has helped push the token higher over the past day. Market watchers are eager to see if ADA can surpass the $0.80 mark, which could signal renewed upward momentum.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
