Cardano [ADA] traded near $0.194 after Grayscale withdrew the registration statement for its proposed standalone Cardano exchange-traded fund.
The withdrawal removes one potential route for direct institutional exposure just as ADA struggles to reclaim $0.20. However, Grayscale’s decision was voluntary rather than an SEC rejection, while the price chart has yet to confirm a fresh bearish breakdown.
Grayscale abandons current Cardano ETF plan
Grayscale submitted a Form RW to the US Securities and Exchange Commission on August 7, requesting the withdrawal of its registration statement for the Cardano ETF.
The firm said it no longer intended to proceed with the proposed distribution of shares. The registration never became effective, and no securities were issued or sold.
Importantly, the SEC did not reject the ETF.
Grayscale voluntarily withdrew the filing without providing a specific commercial or regulatory reason.
The company also withdrew registration statements for proposed Hedera and Polkadot ETFs within minutes of the Cardano filing, suggesting the ADA decision formed part of a broader reassessment of its proposed products rather than an isolated Cardano development.
Meanwhile, regulated CME ADA futures have now completed six months of trading.
That could satisfy one futures-market condition relevant to the SEC’s generic listing framework, but it does not automatically make ADA eligible for a spot ETF.
Recent CME participation also remains limited.
Final data for August 7 showed only five ADA futures contracts were traded, while open interest remained unchanged at 207 contracts, down from higher levels reached in late July.
Can ADA crypto reclaim $0.20?
ADA closed near $0.1936 after again failing to establish itself above $0.20.
That level has repeatedly restricted advances in July and August, making a confirmed daily close above it important to extend the recovery.
The Average Directional Index [ADX] stood at 24.72, indicating that a meaningful trend may be developing.
