Grayscale Retreats From 3 Crypto ETFs After ADA, DOT And HBAR Slide

Grayscale Investments withdrew planned ETFs tied to Cardano (ADA), Polkadot (DOT) and Hedera (HBAR), ending three proposals before any fund reached the market.

Key Points:

• Grayscale filed three ETF withdrawal requests with the SEC late Friday.
• None of the registrations became effective, and no securities were issued or sold.
• ADA, DOT and HBAR have all posted steep losses during 2026.

Grayscale ETF Withdrawals

Grayscale submitted three withdrawal requests to the U.S. Securities and Exchange Commission within four minutes late Friday, telling the regulator it “does not intend to proceed with the planned distribution” of shares for each trust. The withdrawals came from Grayscale, not the SEC.

The Cardano and Polkadot registration statements were initially filed on Aug. 29, 2025, while Hedera’s registration followed on Sept. 9, 2025, after earlier ETF proposals for ADA and DOT arrived in February. The planned funds were passive products designed to track the value of their respective tokens after fees and expenses.

In each Form RW filing, Grayscale said the registration statement had not become effective, no securities had been issued or sold and no preliminary prospectus had been distributed. Investors never received shares in any of the three funds.