This market will resolve to "Yes" if any spot Cardano (ADA) ETF receives approval from the SEC by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". Approval under Rule 19-4b will qualify for a "Yes" resolution, even if there has not been an S-1 approval. Similarly, an S-1 approval without a 19-4b approval will also qualify for a "Yes" resolution. The primary resolution source for this market will be information from the SEC, however a consensus of credible reporting may also be used.