Crypto ETF Plans Axed as Industry Slump Claims New Victims

The digital-asset industry is continuing its downward trend, claiming new casualties among funds designed for mainstream investors. Grayscale Investments has scrapped plans to launch exchange-traded funds (ETFs) tied to Cardano's ADA, Polkadot's DOT, and Hedera's HBAR in recent days.

The collapse of crypto prices has been ongoing since the start of 2026, with Bitcoin down 28% this year. Other cryptocurrencies are faring worse, with an index of smaller coins plummeting over 40%. Tokens like Dogecoin, Solana, and ADA have lost nearly half their value.

Exchanges have begun delisting numerous coins, while trading activity has slowed significantly.