Grayscale Ditches Three Altcoin ETFs in Record Time

Grayscale quietly withdrew registrations for three altcoin ETFs in just 190 seconds on August 7. The filings were accepted by the EDGAR system at 4:33:37 p.m., 4:34:55 p.m., and 4:36:47 p.m. ET, respectively.

The withdrawn registrations were for Grayscale Cardano Trust ETF, Grayscale Hedera Trust ETF, and Grayscale Polkadot Trust ETF. The EDGAR filings stated that Grayscale does not intend to proceed with the proposed distribution of shares, citing no separate commercial or regulatory reason for ending the registrations.

Other Grayscale altcoin registrations remain at an earlier stage, while two staking products have reached a later registration milestone and had their effectiveness notices declared by the SEC. The withdrawals do not necessarily indicate any specific reason for discontinuing the plans.