Cardano Price Backtracks as US SEC Demands Crypto ETFs’ 19b-4 Withdrawal

Key Insights:

• Cardano price trades at $0.7884 after a large $54.3 million withdrawal from Coinbase.
• SEC directs ETF issuers, including Grayscale’s Cardano ETF, to withdraw 19b-4 filings.
• Cardano roadmap targets stablecoins, DeFi growth, and stronger governance.

The United States Securities and Exchange Commission (SEC) has asked ETF issuers, including Grayscale Investments, to withdraw their 19b-4 applications.

Notably, the request follows new Generic Listing Standards that have now replaced individual reviews.

Following this, the change could speed up ETF approvals as Cardano price reacts to the news.

SEC Pushes for Withdrawal of 19b-4 Applications

The US SEC has told several ETF issuers to withdraw their pending 19b-4 applications.

Among them is the filing for Grayscale’s Cardano ETF. The update comes after the SEC announced new Generic Listing Standards, which will take the place of the individual review process.

The standards are designed to create a single framework for how exchange-traded funds are approved.

This means that rather than each application being examined separately, they can now be assessed under a uniform rule.

According to the update, market observers believe this could speed up the approval timeline.

Before the update, the deadline for the ADA ETF was October 26. With the new system in place, approval could come earlier than expected.

Analysts at Bloomberg have suggested approval odds as high as 100%, while prediction market Polymarket has placed the probability at 95%.

The shift highlights how regulators are adjusting to the growing demand for crypto-related investment products.

If Cardano secures approval under the new process, it would give the asset wider visibility in financial markets. In other words, it could boost the Cardano price in the near future.

Cardano Price Reaction and Market Signals

ADA price has shown a modest pullback. Cardano price traded at $0.7884, marking a drop of 0.59% at the time of writing.

The decline follows a series of large movements on exchanges and significant transfers to private wallets.

In addition, Whale Alert, a blockchain tracker, recorded a withdrawal of 67,810,471 Cardano from Coinbase on September 29.

The transfer was valued at around $54.3 million and was split between two addresses. One address received 67.8 million ADA, while the other received 2.2 million ADA.

When tokens are moved from exchanges to private wallets, it lowers the immediate supply available for public trading.

For some market watchers, this signals that holders prefer self-custody.

It could also mean that investors are making portfolio changes or engaging in off-exchange transactions.

These movements do not always have an immediate impact on liquidity, but they often reflect investor sentiment.

Combined with ETF updates and ongoing technical activity, the market appears to be watching closely for the next move of Cardano price as the final quarter of the year begins.

Cardano Price May Rally Amid New Roadmap

Beyond Cardano price, ADA continues to gain spotlight as a reliable blockchain.

At TOKEN2049 in Singapore, Nikhil Joshi, Chief Operating Officer of EMURGO, spoke on its stability.

He noted that Cardano has operated for eight years without any downtime and remains in the top 10 cryptocurrencies by market size.

The Cardano Foundation has also shared a new roadmap. The plan sets out six main goals that go beyond short-term price movement.

These include providing funds to increase liquidity for stablecoins, encouraging wider involvement in decentralized finance, and strengthening governance structures.

The roadmap aims to make ADA more competitive with platforms such as Ethereum and Tron.

These two blockchains currently lead in the stablecoin market. By setting aside ADA funding and focusing on new areas, the foundation hopes to build stronger use cases and attract more participants.

The mix of regulatory changes, investor behavior, and long-term planning places Cardano at a key point.

With the SEC’s new approval process, heavy outflows from exchanges, and clear development targets, the months ahead will test how Cardano price can maintain its position in the wider digital asset market.