NEW: Grayscale asked the SEC to withdraw proposed Cardano, Polkadot and Hedera ETF registrations in three filings submitted within four minutes late Friday.

What happened

Grayscale submitted three filings four minutes after the deadline on Friday, asking the SEC to withdraw its pending ETF applications for Cardano (ADA) and Polkadot (DOT).

Confirmed

Global impact / market context

If the withdrawals stand, investors lose a potential regulated way to buy ADA and DOT, which could slow broader adoption and limit inflows into these tokens.

Analyst inference

Regulators are closely reviewing crypto‑ETF proposals, and approvals are seen as a gateway for institutional money. Grayscale’s withdrawal highlights the difficulty of meeting SEC rules for such funds.

Analyst inference

What to watch

1. SEC’s formal decision on the withdrawal requests, which will determine whether the Cardano and Polkadot ETF applications are officially cancelled. Proposed
2. Any new filing activity from Grayscale or other firms seeking crypto‑ETF approval, indicating whether they will pursue alternative structures or assets. Proposed
3. Price reactions of ADA and DOT as market participants adjust expectations for future regulated investment products linked to these cryptocurrencies. Analyst inference

Affected assets

• ADA — Cardano
• DOT — Polkadot

Evidence

• x.com