Grayscale Pulls SEC Filings for Cardano, Hedera and Polkadot ETF Plans

Grayscale has withdrawn three U.S. Securities and Exchange Commission registration filings for proposed spot ETFs tied to Cardano (ADA), Hedera (HBAR) and Polkadot (DOT), effectively closing out the remaining registration process for the products. SEC records show the crypto asset manager submitted three Form RW withdrawal requests on Aug. 7 within roughly three minutes. The requests covered the Grayscale Cardano Trust ETF, Grayscale Hedera Trust ETF and Grayscale Polkadot Trust ETF. Grayscale said none of the registration statements had become effective before the withdrawals. The company filed the Cardano withdrawal at 4:33:37 p.m. ET, followed by Hedera at 4:34:55 p.m. ET and Polkadot at 4:36:47 p.m. ET. Grayscale cited SEC Rule 477 and said it would not proceed with planned share distributions, without providing additional details. The withdrawals follow earlier pullbacks on the exchange-listing side. Grayscale initially filed S-1 registrations for Cardano and Polkadot on Aug. 29, 2025, and for Hedera on Sept. 9, 2025. NYSE Arca later withdrew the proposed rule change to list the Cardano product on Sept. 29, 2025, while Nasdaq withdrew the Polkadot and Hedera proposals on Nov. 3, 2025, leaving the registrations without active listing proposals. Market reaction was negative. ADA fell more than 2% over 24 hours to around $0.196, ranging from a low near $0.194 to a high around $0.199. Coinglass data showed ADA futures open interest up nearly 1% over four hours to about $477.88 million. HBAR slipped 2.24% to $0.068 and remained down more than 30% over the past two months. DOT declined nearly 2% to about $0.805, with a 24-hour low of $0.7976 and a high of $0.8126, while trading volume rose 27% based on the supplied figures. Grayscale still has other early-stage altcoin ETF registrations tied to Bittensor, Aave, BNB, Near Protocol and Zcash.