Grayscale Abandons Plans for Cardano, Polkadot, and Hedera ETFs

Grayscale Investments has withdrawn its plans to launch exchange-traded funds (ETFs) for Cardano (ADA), Polkadot (DOT), and Hedera (HBAR). The move was announced in filings submitted to the U.S. Securities and Exchange Commission (SEC) on August 7, 2026.

The decision follows a prolonged period of downward price pressure on these assets. Since February 2025, Cardano has faced a drawdown of approximately 70%, while Polkadot has seen a decline of roughly 80%. Hedera's HBAR has also suffered, with a decline exceeding 70%.

The withdrawals were initiated entirely by Grayscale and do not represent a rejection by the SEC. The firm continues to list 17 active ETF and ETP products on its platform, including its Bitcoin Mini Trust and Ethereum Staking Mini ETF.