Grayscale Walks Away from Cardano ETF, AlphaPepe Hopes Remain High

Grayscale's decision to withdraw its standalone Cardano (ADA) ETF filing may have been seen as a blow to ADA holders, but experts say it's not a referendum on the token itself. The move was voluntary and came alongside withdrawals of Grayscale's Hedera and Polkadot filings, suggesting a broader reassessment of single-asset products.

The market took the news in stride, with ADA holding near $0.19 to $0.20 after a strong rally. An ETF is just an open door, providing access but not demand, according to analysts. Demand has been thin for altcoin ETFs, and Grayscale may have decided that a standalone ADA fund would not attract enough assets to be worth running.

Meanwhile, AlphaPepe's tier-1 listing buzz has generated excitement in the market. However, even if a tier-1 listing were confirmed, it would only provide access, not create demand for the token. The true test will come when the token is launched and people begin to use it.

AlphaPepe has raised over $2.3 million in its presale at $0.02602, with a fixed one-billion supply. It's had two audits, including a 10/10 from BlockSAFU, and has locked 400 million tokens.