Grayscale Withdraws Three Altcoin ETF Registrations
Analysis based on 6 articles · First reported Aug 10, 2026 · Last updated Aug 21, 2026
The withdrawals remove potential institutional-access catalysts for ADA, HBAR, and DOT, contributing to short-term price declines of around 2% for these tokens. The move signals a more selective approach to altcoin ETFs, potentially dampening sentiment for the broader altcoin ETF category, though Grayscale's continued activity in the space limits the negative impact.
On August 7, 2026, Grayscale Investments voluntarily withdrew its SEC registration statements for three proposed spot crypto ETFs: the Grayscale Cardano Trust ETF, Grayscale Hedera (distributed ledger) Trust ETF, and Grayscale Polkadot Trust ETF. The withdrawals were submitted via Form RW under Rule 477 of the Securities Act of 1933, and were not the result of SEC rejections. Grayscale stated it did not intend to proceed with the planned distribution of shares, and no securities had been issued or sold. The underlying S-1 filings had been submitted in late August and early September 2025, but the related exchange listing proposals had already been withdrawn by NYSE Arca and Nasdaq in late 2025. The move comes amid a broader cooling in the altcoin ETF market, with Bitwise also withdrawing a registration, and follows significant declines in the prices of ADA, HBAR, and DOT. Grayscale did not provide specific reasons, but the withdrawals are seen as a strategic pruning of its product pipeline rather than a retreat from crypto ETFs, as the firm continues to pursue other products including those tied to Bittensor, Aave, BNB, NEAR, and Zcash, and operates existing Bitcoin and Ethereum ETFs.
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