Grayscale Abandons ADA, HBAR, and DOT ETF Plans

Grayscale, a well-known financial institution in the crypto space, has withdrawn its plans to list three altcoin funds. The company had initially filed for registration with the SEC on August 7, but chose not to proceed with the planned share distributions.

The affected assets are Cardano (ADA), Hedera (HBAR), and Polkadot (DOT). Their prices declined by around 2% after the news broke, although the filings do not establish direct causation.

Grayscale's decision to withdraw its ETF filings comes on the heels of another development. In September 2025, the SEC adopted generic listing standards for qualifying commodity-based trust shares. These standards allow eligible crypto products to avoid separate Section 19(b) proposals, but sponsors still need effective Securities Act registrations before selling shares.

The company's ETF pipeline still includes other altcoin funds, such as those linked to Bittensor, Aave, BNB, NEAR, and Zcash. However, the effectiveness of these registrations is uncertain.