Grayscale Investments withdrew its three spot ETF registration applications for Cardano, Hedera, and Polkadot on August 7, 2026, filing its withdrawal requests within less than 190 seconds. The original S-1 registrations for Cardano and Polkadot had been submitted to the SEC on August 29, 2025, with the Hedera filing following on September 9, 2025. The firm provided no commercial, regulatory, or strategic explanation for the decision, stating only that it did not intend to proceed with the planned distribution. Market reaction was neutral, with no significant price movement for ADA, HBAR, or DOT, while Grayscale’s Bitcoin and Ethereum products as well as five other altcoin ETF applications remain active.
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