Cardano ETF: Cardano Founder Reacts to ADA Community Speculation

The Cardano (ADA) community is currently abuzz with speculation about a potential Cardano exchange-traded fund (ETF). The speculation was sparked by a recent X post by Tap Tools, a token, NFT and wallet tracking platform on the Cardano blockchain.

The tweet posed the question, "Is ADA ETF up next?" alongside an image featuring a checklist with Bitcoin and Ethereum ETFs struck out, leaving only Cardano ETF.

This speculation comes on the heels of a significant milestone for the crypto market: the launch of Ethereum ETFs in the United States. In a remarkable milestone, Ethereum exchange-traded funds officially began trading in the U.S. on Tuesday, putting the world’s second-largest cryptocurrency into a vehicle preferred by professional investors and advisors.

The tweet from Tap Tools caught the attention of Cardano’s founder, Charles Hoskinson. He responded with a GIF image reminiscent of a superhero, captioned, "Fine, I'll do it myself." This playful-yet-assertive response ignited further discussion within the ADA community.

One community member, drawn by Hoskinson’s engagement, replied, "If you are going to do it yourself, can you also 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?" In response, Hoskinson posted another GIF, this time with the caption, "Yes."

Hoskinson’s remarks, although they might seem playful, serve as a harbinger of hope to some in the ADA community regarding the potential of a Cardano ETF, as similar Ethereum vehicles began trading in the United States.

Latest Chang hard fork update

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, the first anticipated to occur in August 2024 (assuming community preparation), are poised to be transformative events for Cardano and represent a critical milestone in its upgrade timeline.

According to Intersect, 247 members of the Cardano community have completed DRep onboarding in anticipation of the Chang upgrade.