Grayscale Drops Plans For Cardano, Polkadot and Hedera ETFs

Grayscale Drops Plans For Cardano, Polkadot and Hedera ETFs

Mon, August 10, 2026 at 10:52 PM GMT+3 1 min read

Asset manager Grayscale Investments has dropped plans to launch exchange-traded funds (ETFs) that would track the spot price of cryptocurrencies Cardano (CRYPTO: $ADA), Polkadot (CRYPTO: $DOT) and Hedera (CRYPTO: $HBAR).

Privately held Grayscale has withdrawn three registrations it had with the U.S. Securities and Exchange Commission (SEC) regarding the proposed crypto ETFs.

Grayscale's ETF proposals were filed with the SEC throughout 2025 as it looked to expand its crypto investment offerings.

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Like its popular Grayscale Bitcoin Trust ETF (GBTC), the Cardano, Polkadot and Hedera ETFs were proposed as passive investment vehicles that would track the spot price of the digital tokens.

However, Grayscale has decided against proceeding with the new ETFs due to a prolonged slump in crypto prices.

Year-to-date, ADA is down more than 41%, while DOT has lost 54% of its value, and HBAR's price has fallen 35% amid a persistent "crypto winter."

Grayscale Investments currently has 17 ETF products. In addition to the Bitcoin Trust, the company also offers Ethereum (CRYPTO: $ETH) and Hyperliquid (CRYPTO: $HYPE) funds.

Grayscale is a private company and its stock is not listed on a public exchange.