Cardano Keeps Its Ground Despite Grayscale ETF Rejection

Cardano's ADA token has held its ground at $0.2 despite a setback in the form of Grayscale withdrawing its registration application for a Cardano ETF.

The withdrawal came before Cardano hit its ETF eligibility milestone, which was reached on August 9 when it completed six months of regulated CME futures trading.

Grayscale had filed a Form RW submission on August 7 to withdraw the S-1 registration statements for the Grayscale Cardano Trust ETF, among others.

The move may have been seen as a disappointment by some, but Cardano's price has rebounded from its intraday low of $0.194 on Monday.

At the time of writing, ADA was trading at $0.195, having touched an intraday high of $0.199.