Grayscale Abandons Plans for Cardano, Polkadot, Hedera ETFs Amid Market Decline

Grayscale Investments has withdrawn its plans to launch three cryptocurrency exchange-traded funds (ETFs) tied to Cardano (ADA), Polkadot (DOT), and Hedera (HBAR).

The company filed withdrawal requests with the U.S. Securities and Exchange Commission late Friday, stating that it does not intend to proceed with the planned distribution of shares for each trust.

According to the Form RW filings, none of the registrations became effective, no securities were issued or sold, and no preliminary prospectus had been distributed.

The withdrawals come as ADA, DOT, and HBAR have all posted steep losses during 2026, with ADA down over 41%, DOT falling more than 54%, and HBAR losing around 35% of its value year-to-date.