Grayscale Withdraws Applications for Three Altcoin ETFs
Grayscale has withdrawn its applications for three alternative cryptocurrency ETFs, according to documents filed with the US Securities and Exchange Commission (SEC). The reasons behind this decision are not disclosed in the documents. Each of the three applications - Grayscale Cardano Trust ETF, Grayscale Hedera Trust ETF, and Grayscale Polkadot Trust ETF - was withdrawn within a 190-second timeframe.
These registrations were not yet effective, no securities have been issued or will be issued under these filings. Other similar applications from this company remain with the SEC in preliminary review status and have not been withdrawn. This includes ETFs on Aave, Bittensor, BNB, NEAR, and Zcash.
Grayscale has registered two exchange-traded funds (ETFs) for staking alternative cryptocurrencies this year: Grayscale Avalanche Staking ETF in March and Grayscale Hyperliquid Staking ETF in June. However, trading on these investment products has yet to commence or be announced.