Cardano Soars 23% on T. Rowe Price ETF Inclusion
Cardano's price surged by nearly 23% in just two days after being added to an actively managed crypto ETF by T. Rowe Price, a traditional finance giant with $1.9 trillion under management.
The Baltimore-based asset manager allocated 0.43% of its Active Crypto ETF (TKNZ) to Cardano, which is approximately $75,187 within the fund's portfolio.
Market observers see this as a significant validation of Cardano's regulatory standing and maturity into an asset worthy of institutional custody.
The move comes amidst a broader market surge triggered by comments from US presidential candidate Donald Trump on Friday, which lifted sentiment across the sector and pushed Bitcoin to a new all-time high of $79,500.
Cardano's underlying usage metrics are also showing signs of life, with daily transactions climbing 33% and active addresses more than doubling in a 24-hour window.