Grayscale Withdraws ADA, HBAR, and DOT ETF Proposals from SEC Consideration

Grayscale has withdrawn its registrations for proposed ETFs tied to Cardano (ADA), Hedera (HBAR), and Polkadot (DOT) from the SEC's consideration. This decision removes three altcoin offerings from Grayscale's current pipeline, but it does not necessarily mean that the company is abandoning these products entirely.

The withdrawals were made on August 7, with the Grayscale Cardano Trust ETF registration being removed at 4:33:37 p.m. Eastern Time, followed by the Grayscale Hedera Trust ETF and Grayscale Polkadot Trust ETF at 4:34:55 p.m. and 4:36:47 p.m., respectively.

The SEC filings indicated that the shares would not be distributed under the registrations, which had been ineffective. The company did not provide a reason for withdrawing the proposed products from its pipeline.