The Cardano community is eager with excitement as speculation surrounding a potential Cardano exchange-traded fund (ETF) gains momentum. This development comes on after the launch of Ethereum ETFs in the United States, a significant milestone in the crypto industry.
Cardano Founder Weighs In
Charles Hoskinson, the founder of Cardano, recently responded to a tweet from Tap Tools, a token, NFT, and wallet tracking platform on the Cardano blockchain, which asked, “Is ADA ETF up next?”
Hoskinson’s reply, featuring a GIF image with the caption, “Fine, I’ll do it myself.” This ignited further discussion within the ADA community. While his response was playful, it has been interpreted as a sign of hope for the potential launch of a Cardano ETF.
The launch of Ethereum ETFs in the US marks a significant development in the crypto market, providing professional investors and advisors with a preferred vehicle for investing in the world’s second-largest cryptocurrency. Similarly, a Cardano ETF would provide investors with a new way to engage with the ADA token.
Chang Hard Fork Update
In a related development, 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.
The Chang upgrades, anticipated to occur in August 2024, are poised to be transformative events for Cardano, representing a critical milestone in its upgrade timeline. To date, 247 members of the Cardano community have completed DRep onboarding in anticipation of the Chang upgrade.
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Hoskinson’s engagement with the community has sparked further discussion, with one member asking if he could 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. Hoskinson’s affirmative response, featuring another GIF, has been seen as a positive sign for the potential development of a Cardano ETF.
The potential launch of a Cardano ETF would mark a significant development for the ADA community, providing investors with a new way to engage with the token. While no official announcement has been made, Hoskinson’s responses have been interpreted as a sign of hope for the potential launch of a Cardano ETF.
The launch of a Cardano ETF would mark a significant milestone in the development of the ADA token, coupled with the upcoming Chang hard fork, the Cardano ecosystem is positioned for significant growth and development.
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