Grayscale voluntarily withdrew its Cardano ETF registration statement with the SEC on August 7, though this was not an SEC rejection. ADA was trading near $0.194, struggling to reclaim the $0.20 level that capped advances in July and August. The Chaikin Money Flow indicator fell to -0.06, indicating selling pressure has outweighed accumulation despite nearby resistance. Grayscale also withdrew Hedera and Polkadot ETF filings within minutes, suggesting a broader reassessment of its proposed products rather than an isolated Cardano decision.
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