Cardano Holds Ground at $0.2 Despite Grayscale ETF Withdrawal

Cardano's price has held steady near $0.2 despite the news that Grayscale had withdrawn its registration application for a Cardano ETF.

The withdrawal of the S-1 registration statement came on August 7, and it means that an ETF decision in late October 2026 will no longer be possible for the Grayscale Cardano Trust ETF with ticker GADA.

Cardano community members had celebrated a major milestone on August 9 when the cryptocurrency completed six months of regulated CME futures trading, which put it on the path to streamlined listing under the SEC's Generic Listing Standards.

In its filing, Grayscale confirmed that the Cardano ETF Registration Statement has not been declared effective, and the company said it had neither issued nor sold securities under the registration statement or the accompanying prospectus.