Grayscale Withdraws ADA, HBAR and DOT ETF Registrations From SEC

Highlights:

• Grayscale withdrew planned ADA, HBAR and DOT ETF registrations after deciding not to continue the share offerings.
• The SEC never declared the three registrations effective, and Grayscale issued no shares under the proposed funds.
• Grayscale gave no reason for the withdrawals and announced no replacement filings or new launch timeline.

Grayscale Investments has withdrawn registration filings for three planned crypto ETFs linked to Cardano (ADA), Hedera (HBAR), and Polkadot (DOT). The asset manager submitted all three withdrawal requests to the U.S. Securities and Exchange Commission (SEC) on August 7. The filings cover the Grayscale Cardano Trust ETF, Grayscale Hedera Trust ETF, and Grayscale Polkadot Trust ETF. Grayscale told the SEC that it no longer plans to move forward with the share offerings. However, the company did not explain why it made the decision.

Grayscale Withdraws Registration Applications for ADA, HBAR and DOT ETFs

According to SEC filings, Grayscale filed three Form RW submissions on August 7, withdrawing the S-1 registration statements for the Grayscale Cardano Trust ETF, Grayscale Hedera Trust ETF and Grayscale… pic.twitter.com/haXOpqcOuE

— Wu Blockchain (@WuBlockchain) August 10, 2026

Grayscale Ends Three Altcoin ETF Filings

Grayscale filed the withdrawal requests under Rule 477 of the Securities Act of 1933. The company first filed the Cardano and Polkadot ETF registrations on August 29 last year. It later filed the Hedera ETF registration on September 9.

Grayscale amended the filings during the registration process. However, the SEC never declared any of the three registrations effective. The company also confirmed that it did not issue or sell any shares under the proposed offerings. Grayscale did not distribute preliminary prospectuses for the products either. Most importantly, Grayscale chose to withdraw the filings itself. The SEC did not reject the proposed ADA, HBAR, or DOT ETFs.

Grayscale Planned ETFs for ADA, HBAR and DOT Exposure

Grayscale designed the three products to give investors exposure to their respective cryptocurrencies through traditional investment shares.

The Grayscale Cardano Trust ETF planned to hold ADA, the native cryptocurrency of the Cardano network. Grayscale designed the fund as a passive investment product. The value of its shares would mainly follow the value of the ADA held by the trust after expenses. Grayscale planned a similar structure for the Hedera Trust ETF. The trust would hold HBAR and give investors exposure to the cryptocurrency without requiring them to buy or store HBAR directly.

Meanwhile, the Grayscale Polkadot Trust ETF planned to hold DOT, the native asset of the Polkadot network. The fund would track the value of its DOT holdings after expenses. Through these products, Grayscale aimed to offer investors another way to access major altcoins through regulated securities markets.

Grayscale did not explain why it dropped the three registrations. The August 7 filings also do not mention new applications, replacement products, or another launch timeline for ADA, HBAR, or DOT ETFs. For now, Grayscale has ended the current registration process for all three proposed products. The filings also leave open the possibility that the company could submit new applications in the future.

Separately, Grayscale continues to update its existing crypto ETF products. On August 6, the firm amended the trust agreements for its Ethereum Staking ETF and Solana Staking ETF. Under the new terms, the funds will convert staking rewards into cash at least quarterly and distribute the net proceeds to shareholders, subject to staking conditions.