Grayscale Drops Cardano ETF Filing Just as ADA Clears a Key Hurdle

Linda, a Cardano-focused host who previously operated a Cardano stake pool, says Grayscale’s withdrawal of its proposed Cardano, Hedera and Polkadot ETF filings came at an awkward moment for ADA.

According to the YouTube episode, Cardano’s regulated futures trading had completed a required track-record threshold on August 9, potentially making ADA eligible for listing under the SEC’s generic standards for spot crypto ETFs.

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That does not mean a Cardano ETF is imminent. The host’s central argument is that Grayscale may have concluded the economics were too weak to justify launching a standalone ADA product, even if the regulatory door is now open.

Eligibility may be open, but demand remains the harder test

The YouTube video describes regulated CME futures trading as a key requirement for crypto assets seeking a spot ETF listing in the U.S. Under that view, ADA has now met an important prerequisite that had previously limited its ETF prospects.

Grayscale nevertheless pulled its filings only days before that milestone, according to Linda. The firm did not publicly disclose its reasoning in the video, but she frames the decision as a commercial calculation rather than a rejection of Cardano itself.