Approximately 87% chance of Cardano ETF approval before crucial deadline.

The world of cryptocurrency continues to evolve, with significant strides being made on the Cardano (ADA) network. In this article, we'll delve into two key developments: the introduction of the Halo2-Plutus verifier and the progress of the Cardano ETF.

The Halo2-Plutus Verifier

The Halo2-Plutus verifier, an open-source project developed by Input Output, has been designed to unlock the potential of zero-knowledge proofs (ZKPs) for Cardano. This verifier bridges the advanced cryptographic capabilities of the Halo2 proof system with the Plutus smart contract platform on Cardano.

The Halo2-Plutus verifier enables broader applications, such as membership proofs, range proofs, and confidential transactions, which are essential for enhancing privacy, scalability, and security on Cardano. It also supports the Midnight-Cardano zk-bridge, potentially contributing to Cardano's overall development and competitiveness in the cryptocurrency market.

The Cardano ETF

The Cardano ETF, a proposed exchange-traded fund (ETF) focused on Cardano, has seen a positive shift in its approval odds. According to both Bloomberg analysts and Cardanians, the odds are currently at 75% and 87% respectively.

The U.S. Securities and Exchange Commission (SEC) recently acknowledged NYSE Arca's 19b-4 form for Grayscale's spot Cardano ETF. However, the SEC has extended its review of Grayscale's proposed Cardano ETF until Oct. 26, 2025. This extension does not necessarily mean a denial of the ETF, as expectations for a potential approval are still in place.

The Cardano community is looking forward to the Oct. 26, 2025 deadline for the SEC's decision on the Cardano ETF. The Grayscale Cardano Trust ETF was added to Delaware's official registration portal earlier this month, further indicating progress towards the ETF's potential approval.

The Connection

While the Halo2-Plutus verifier is not directly related to the Cardano ETF, its development and potential impact on Cardano's privacy, scalability, and security are significant for the Cardano community and ecosystem. A successful Cardano ETF could potentially boost the network's adoption and visibility, further enhancing the value of the Halo2-Plutus verifier's contributions.

In conclusion, the introduction of the Halo2-Plutus verifier and the progress of the Cardano ETF are exciting developments for the Cardano community. As we move towards the Oct. 26, 2025 deadline for the SEC's decision on the Cardano ETF, the Cardano network continues to demonstrate its commitment to innovation and growth.