Grayscale has ended its current Cardano ETF effort as ADA tests $0.20, but the SEC did not reject the proposed product.
Fundamentally-strong cryptos are staying for the long game, but prices refuse to cooperate with exquisite technical setups.
At least two of the three funds lost their exchange listing proposals in late 2025, and the third has shown no movement at the SEC since September.
The asset manager said it no longer intends to proceed with the offerings. None became effective, and no securities were issued or sold.
Crypto ETF: Grayscale withdraws its Cardano, Hedera and Polkadot files in 190 seconds, without any explanation. Details here!
Grayscale withdraws SEC filings for Cardano, Hedera, and Polkadot ETFs, while ADA, HBAR, and DOT prices fell after the filings were pulled.
Cardano (ADA) has been stuck in the highly contested zone near $0.20 since suddenly soaring roughly 10% five days ago and, by Monday, might be at risk of crashing due to an August 7 Securities and Exchange Commission (SEC) filing.
Zinetti's exit may challenge Cardano's technical continuity and strategic momentum, impacting its enterprise initiatives and ecosystem growth. Cardano Foundation announces departure of CTO Giorgio Zinetti on August 31.
Cardano's focused funding approach may accelerate innovation in key blockchain areas, potentially enhancing its ecosystem's competitiveness and utility. Cardano opens funding engine with 2.5M ADA for projects, deadline August 20.
Cardano (ADA) currently trades around $0.196 following a robust two-week performance marked by double-digit percentage gains. While the cryptocurrency remains approximately 94% beneath its historical peak of $3.10, recent price action demonstrates improving near-term dynamics.
Grayscale Investment, with $45 billion in AUM, has withdrawn registration filings for its proposed Cardano (ADA), Hedera (HBAR), and Polkadot (DOT) ETFs, ending the latest stage of plans that had been in place since 2025. The announcement comes just before CME's regulated ADA futures complete six months of trading on August 9.
Grayscale's ETF withdrawal highlights a strategic focus shift, potentially impacting investor confidence in altcoin market diversification. Grayscale withdraws ETF registration applications for ADA, HBAR, and DOT.