Grayscale Pulls Plug On Three Major ETF Filings Including ADA, HBAR Grayscale filed three Form RW submissions with the SEC on August 7. The filings withdraw S-1 registration statements for the Cardano $ADA Trust ETF, Hedera $HBAR Trust ETF and Polkadot $DOT Trust ETF. They

What happened

Grayscale filed three Form RW submissions on August 7, withdrawing its S‑1 registration statements for the Cardano (ADA) Trust ETF, Hedera (HBAR) Trust ETF, and Polkadot (DOT) Trust ETF.

Confirmed

Global impact / market context

The withdrawals stop Grayscale from launching ETFs that would let investors buy these cryptocurrencies through regular brokerage accounts, reducing a potential channel for mainstream exposure and new capital into the assets.

Analyst inference

Crypto‑linked ETFs are a key way for investors to access digital assets in a regulated setting; Grayscale’s pull‑back removes three upcoming products, which may slow the growth of crypto investment options overall.

Analyst inference

What to watch

1. SEC’s response to Grayscale’s withdrawal letters, which could indicate whether the regulator expects further changes before approving similar crypto ETFs. Proposed
2. Any new filing by Grayscale or other firms for alternative crypto ETFs, showing whether the company will pursue different assets or structures. Proposed
3. Investor flows into existing crypto ETFs and futures, revealing demand for regulated crypto exposure after these three products were withdrawn. Proposed

Affected assets

• ADA — Cardano
• DOT — Polkadot

Evidence

• x.com