Grayscale Pulls Plug on Cardano ETF Filing at Last Minute
Grayscale has withdrawn its filing for a planned spot Cardano ETF, halting its immediate push to launch a dedicated ADA investment product in the United States.
The company made this decision after submitting a request to withdraw the Form S-1 registration statement for the proposed Grayscale Cardano Trust ETF on August 7. This move came just two days before Cardano was set to reach a key milestone in the SEC's streamlined spot ETF review framework, marking six months since CME Group launched regulated ADA futures.
The availability of regulated futures had helped satisfy an important condition for the streamlined review of a potential spot ADA ETF, but Grayscale has chosen not to proceed with its application. The company also withdrew its proposed Hedera and Polkadot ETF filings in conjunction with this decision.