Grayscale Withdraws SEC Filings for Cardano, Hedera, Polkadot ETFs

Grayscale Investments has withdrawn its registration statements for three proposed exchange-traded funds tied to the cryptocurrencies Cardano, Hedera, and Polkadot, according to filings with the U.S. Securities and Exchange Commission. The move, executed in a rapid sequence on August 7, 2025, signals a pause in the asset manager's efforts to expand its lineup of altcoin ETFs.

The company filed three Form RW requests with the SEC within a span of 190 seconds, beginning at 4:33:37 p.m. ET for the Grayscale Cardano Trust ETF, followed by the Grayscale Hedera Trust ETF at 4:34:55 p.m. ET, and concluding with the Grayscale Polkadot Trust ETF at 4:36:47 p.m. ET. Each filing states that Grayscale does not intend to proceed with the planned distribution of shares under the respective registration statements. The documents confirm that none of the registrations had been declared effective, no securities were ever issued or sold, and no preliminary prospectus had been distributed.

The withdrawals apply to the S1 registration statements, which are required for a public offering of securities. These are separate from the exchange listing proposals, which had already been withdrawn months...