Grayscale withdrew its SEC registration statements for proposed Cardano (ADA), Hedera (HBAR) and Polkadot (DOT) ETFs, filing all three withdrawals within minutes of each other on August 7, 2026.
The original applications date back to August 29, 2025 (Cardano and Polkadot) and September 9, 2025 (Hedera).
The withdrawals affect Securities Act registration statements only — there was no adverse SEC ruling against ADA, HBAR or DOT supporting exchange-traded products.
Three altcoin ETF hopefuls just got shelved — but not necessarily buried. Grayscale filed withdrawal requests with the US Securities and Exchange Commission for its proposed Grayscale Cardano Trust ETF, Grayscale Hedera Trust ETF and Grayscale Polkadot Trust ETF, according to SEC filings. All three withdrawals landed within minutes of one another on August 7, 2026. Grayscale offered no detailed commercial explanation, and crucially, withdrawing an S-1 registration statement does not block the firm from refiling later, nor does it signal SEC rejection of the underlying tokens.
Why Pulling a Filing Isn’t the Same as Killing a Product
The timing lines up with a broader shift in how crypto ETFs reach market. The SEC approved generic listing standards for commodity-based trust shares in 2025, letting qualifying crypto products bypass the traditional Rule 19b-4 exchange-approval process altogether. That regulatory shortcut has already prompted exchanges to withdraw a number of outstanding 19b-4 applications for crypto ETFs, since eligible products can now move through the streamlined listing path instead. Grayscale’s original Cardano and Polkadot filings went in on August 29, 2025, with the Hedera filing following on September 9, 2025 — all designed as passive vehicles letting investors gain token exposure through standard brokerage accounts. Notably, Canary Capital still runs a separate, independent HBAR ETF registration, meaning a Hedera-linked fund path remains open regardless of Grayscale’s move.
What This Means for Your Portfolio and Wallet
For ADA, HBAR and DOT holders eyeing easier, brokerage-account exposure to these tokens, the withdrawal is a delay rather than a dead end — but it does mean one less near-term product option, and it underscores how fluid the crypto ETF approval landscape remains even after 2025’s rule changes.
Strategic Positioning & Defense Ideas
Investors interested in altcoin exposure through regulated vehicles should keep tabs on alternative filings, such as Canary Capital’s HBAR registration, and consider diversifying across asset types rather than betting on a single pending product’s approval timeline. Disclaimer: This analysis is for educational and informational purposes only and should not be construed as financial or investment advice.
What to Watch Next
Watch for potential refiled applications from Grayscale, movement on Canary Capital’s HBAR ETF, and further SEC guidance on streamlined crypto ETF listings. Full details are available via FinanceFeeds.
