Grayscale withdraws ADA, HBAR, and DOT ETF registration applications in succession, without disclosing specific reasons

Odaily News, Grayscale filed to withdraw three ETF registration applications for Cardano (ADA), Hedera (HBAR), and Polkadot (DOT) on August 7, with the three withdrawal filings submitted approximately 190 seconds apart.

All three withdrawal filings state that Grayscale no longer plans to proceed with the issuance of the related ETF shares, and note that the registration statements have not yet become effective, no securities have been issued or sold, and no preliminary prospectus has been published. The withdrawals are not a rejection of the ETF applications by the SEC, and the filings do not disclose the reasons behind the decision.

As of August 8, Grayscale's altcoin ETF applications for Bittensor, Aave, BNB, NEAR, and Zcash remain in the preliminary stage. Earlier, the registration statements for Grayscale's Avalanche Staking ETF and Hyperliquid Staking ETF became effective in March and June of this year, respectively. However, the effectiveness of a registration statement does not necessarily mean that the product has begun trading. (cryptoslate)