ADA crypto stalls below $0.20 as Grayscale withdraws Cardano ETF filing

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.