"" Grayscale Investments has quietly withdrawn its S-1 filings for three spot ETF registrations, pulling the plug on plans for Cardano, Hedera, and Polkadot. The move was swift, with all three Form RW withdrawal requests filed within four minutes of each other.
The withdrawals came on August 7, 2026, at 4:33:37 p.m. ET for Cardano, 4:34:55 p.m. ET for Hedera, and 4:36:47 p.m. ET for Polkadot. The original S-1 registrations for the Cardano and Polkadot ETFs were submitted to the SEC on August 29, 2025, while the Hedera filing followed on September 9, 2025.
Grayscale's decision to withdraw these registrations suggests that the company is pruning lower-priority products and focusing on more promising opportunities. The Bitcoin and Ethereum products remain untouched, and five other altcoin ETF registrations are still in preliminary stages as of August 8, 2026.
Market reaction to the withdrawals was muted, with no significant price movement observed in ADA, HBAR, or DOT following the announcement. Investors appear to view this as a calculated decision to prune lower-priority products rather than a sweeping change in Grayscale's ETF strategy.
