Grayscale withdraws Cardano, Polkadot, and Hedera ETF registrations

Grayscale Investments has withdrawn its SEC registrations for three altcoin exchange-traded funds (ETFs): Cardano, Polkadot, and Hedera. The withdrawals were filed via Form RW on August 7, 2026, within a 190-second window. The company stated it “no longer intends to proceed with the planned distributions,” though it provided no further public explanation.

The decision occurred just two days before Cardano completed its six-month CME futures seasoning period, a milestone that would have enabled a spot ADA ETF to list under SEC standards. Despite Grayscale's retreat, several other issuers, including Bitwise, Canary Capital, VanEck, and 21Shares, maintain active filings for Cardano ETFs, with SEC decision windows expected around late October 2026.

Grayscale's move follows reported financial pressures, including a 20 percent revenue decline noted in its IPO filing. The firm's revenue remains heavily reliant on its Bitcoin and Ethereum products, which account for 88 percent of its roughly $318.7 million in nine-month revenue.