Asset manager Grayscale officially withdrew the registration of three altcoin Exchange-Traded Fund (ETF) products from the U.S. Securities and Exchange Commission (SEC) on August 7, 2026. The three cancellation filings for Cardano (ADA), Hedera (HBAR), and Polkadot (DOT) were submitted consecutively within a span of just 190 seconds, specifically between 16:33:37 and 16:36:47 local time.
In the Form RW documents submitted to the SEC, Grayscale confirmed that no shares were ever issued or sold to the public. The prospectuses for these three products have also never been distributed because their registration status was never declared effective from the initial filing.
These three products represent older, stagnant initiatives. The Cardano ETF registration under file number 333-289948 and the Polkadot ETF under number 333-289949 were filed simultaneously in August 2025. A month later, the Hedera ETF under number 333-290129 followed to the regulator’s desk. Signs of retreat were already visible from the actions of the supporting exchanges. NYSE Arca was the first to withdraw its proposed rule change for the Grayscale Cardano Trust product in September 2025, while Nasdaq withdrew filings for the Polkadot and Hedera Trusts in November 2025.
No Specific Reason
The official withdrawal documents do not mention any commercial reasons, lack of market demand, or regulatory hurdles that forced Grayscale to cancel the products. The administrative process is also one-way. According to SEC Rule 477(b), such withdrawals are automatically deemed approved within 15 calendar days, unless the regulator objects.
This cancellation is purely an internal decision, not a rejection from the SEC. The terms of the documents grant Grayscale full freedom to refile the registration for these three altcoin ETFs at any time if the company’s strategy changes.
The New Queue is Still Long
The removal of these three legacy assets does not mean Grayscale is putting the brakes on its expansion beyond Bitcoin and Ethereum. Their new products are instead moving forward smoothly. The Avalanche Staking ETF has been effectively operating since March 11, followed by the launch of the Hyperliquid Staking ETF, which received effective approval on June 2.
In the regulator’s waiting room, a stack of Grayscale’s proposals for other altcoins is still waiting its turn. The SEC is currently processing ETF registrations targeting Bittensor, Aave, BNB, NEAR, and Zcash. Specifically for Zcash, the process continues to move forward after the SEC accepted the third filing amendment on July 31.
The clearing of these three outdated 2025 filings shows that the company’s focus has begun shifting toward a new lineup of assets, leaving behind legacy projects that were stuck at the licensing desk.
As reported by crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
