- Grayscale withdrew three SEC registration filings for proposed Cardano, Hedera and Polkadot ETFs within just over three minutes on Aug. 7.
- The withdrawals ended the remaining registration process after related exchange listing proposals for ADA, HBAR and DOT had already been withdrawn.
- ADA, HBAR and DOT prices fell after the filings were withdrawn, while Grayscale still has other early-stage altcoin ETF registrations.
Grayscale withdrew three proposed altcoin ETF registrations with the U.S. SEC on Aug. 7, ending filings for Cardano, Hedera and Polkadot funds. The crypto asset manager submitted three Form RW requests within 190 seconds, starting at 4:33:37 p.m. ET. Grayscale cited Rule 477 and said it would not proceed with planned share distributions, without giving further reasons.
Grayscale Pulls Three ETF Registration Filings
The SEC filings covered the Grayscale Cardano Trust ETF, Grayscale Hedera Trust ETF and Grayscale Polkadot Trust ETF. Grayscale said none of the registration statements had become effective before the withdrawals.
Grayscale filed the Cardano request at 4:33:37 p.m. ET, followed by Hedera at 4:34:55 p.m. ET. The Polkadot withdrawal came at 4:36:47 p.m. ET, placing all three requests within just over three minutes.
Exchange Filings Had Already Been Withdrawn
Grayscale first filed the Cardano and Polkadot S-1 registrations on Aug. 29, 2025. The company filed the Hedera S-1 on Sept. 9, 2025. However, the related exchange filings later left the process without active listing proposals.
NYSE Arca withdrew the Cardano listing proposal on Sept. 29, 2025. Nasdaq then withdrew the Polkadot and Hedera proposals on Nov. 3, 2025. Grayscale subsequently withdrew the remaining S-1 registrations under Rule 477.
ADA, HBAR and DOT Prices Move Lower
The filings coincided with declines across the three assets. ADA fell more than 2% over 24 hours, trading around $0.196, with a $0.194 low and $0.199 high. Coinglass data showed ADA futures open interest rising nearly 1% over four hours.
Open interest reached about $477.88 million, with buying activity across derivatives exchanges. HBAR dropped 2.24% to $0.068 and had declined more than 30% over two months. DOT also fell nearly 2%, trading around $0.805.
DOT recorded a 24-hour low of $0.7976 and a high of $0.8126. However, its trading volume increased 27%, according to the supplied data. Other early-stage Grayscale ETF registrations remain tied to Bittensor, Aave, BNB, Near Protocol and Zcash.
