Asset manager Grayscale has withdrawn from the SEC its applications for three crypto ETFs: Hedera (HBAR), Cardano (ADA) and Polkadot (DOT), filing Form RW requests. These funds had never been listed and the stated reason is the lack of intention to proceed with the distribution of the trust shares. This decision falls within a broader context of waning interest in crypto ETFs except for those on Bitcoin (BTC). According to SoSoValue data, the two existing funds on DOT and HBAR hold respectively 7.3 million and 47.6 million dollars in assets, modest amounts that illustrate the lack of market demand.
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