Gryskal's recent ETF submission under scrutiny: Potential impact on Cardano price, reaching $1 for ADA?

In the world of cryptocurrency, there's an exciting development that's catching the attention of investors. The Best Wallet presale is still offering discounted entry tiers, as the project continues to attract participants with its unique features and benefits.

Best Wallet's success in the presale is a clear sign of increasing investor interest in multi-chain solutions. With the ability to offer low transaction fees, attractive staking yields, and early access to decentralised applications (dApps), Best Wallet is becoming a preferred solution for those navigating across blockchain ecosystems.

Grayscale's ETF Push for Cardano and Polkadot

The rising adoption trend of altcoins like Cardano is driving demand for secure multi-chain storage solutions, and this is where Best Wallet shines. In a move that underscores this growing interest, Grayscale Investments has filed registration statements with the SEC for new Cardano (ADA) and Polkadot (DOT) exchange-traded funds (ETFs).

Grayscale's S-1 filing for the Cardano ETF was made on August 29, 2025, and the proposed ADA ETF will trade on NYSE Arca under the ticker GADA, tracking CoinDesk's Cardano Price Index (ADX). The proposed Polkadot ETF, on the other hand, is set to list on Nasdaq under ticker DOT, following the CoinDesk Polkadot CCIX Reference Rate.

These ETFs are designed as passive funds, holding the underlying tokens in custody with Coinbase, without leverage or derivatives. This move suggests that institutional investors are increasingly looking to gain exposure to the altcoin market.

Cardano Price Analysis

The Cardano price is currently holding support near $0.82 after a 10% loss. However, technical indicators suggest a possible recovery toward $0.90. Bollinger Bands, a popular volatility indicator, are narrowing around the current trading range of Cardano, suggesting an incoming rebound phase.

The 20-day moving average for Cardano is positioned near $0.87, aligning with the mid-Bollinger band and establishing the first resistance target. If bulls reclaim the $0.87 level, a climb toward $0.90 in the short term could be on the cards.

Despite these positive signs, ADA trades under pressure near support, with the current headlines about the Grayscale ETFs yet to significantly impact the price.

In conclusion, the Best Wallet presale continues to offer a potential opportunity for investors to secure BEST tokens at a discounted price. Meanwhile, Grayscale's ETF push for Cardano and Polkadot indicates growing institutional interest in altcoins, and the rising adoption trend of altcoins like Cardano is driving demand for secure multi-chain storage solutions like Best Wallet.

Gryskal's recent ETF submission under scrutiny: Potential impact on Cardano price, reaching $1 for ADA?