Grayscale Withdraws ADA, HBAR, DOT ETF Filings Amid Exchange Listing Woes

Grayscale Investment has withdrawn its registration filings for three proposed exchange-traded funds (ETFs), targeting Cardano (ADA), Hedera (HBAR), and Polkadot (DOT). The decision comes just before CME's regulated ADA futures complete six months of trading on August 9. Grayscale submitted the Form RW requests to withdraw the S-1 registration statements for its Cardano Trust ETF, Hedera Trust ETF, and Polkadot Trust ETF on August 7.

The related exchange filings were withdrawn months earlier, leaving Grayscale with registration filings that could not move forward without an active exchange listing process. A crypto ETF generally needs two key SEC filings: the S-1 provides details about the fund, while the 19b-4 filing allows the exchange to seek approval to list the product.

Grayscale chose to withdraw the applications before the process reached a formal SEC decision, citing standard Form RW language that it did not plan to continue with the planned share distribution. The company stated that the registrations had not become effective and that no shares had been issued or sold.