Grayscale Investments has announced its withdrawal of plans to create exchange-traded funds (ETFs) for three digital assets—Cardano’s ADA, Polkadot’s DOT, and Hedera’s HBAR. The company initially filed initial proposals for these trusts in February 2025, but withdrew the SEC registration statements on Friday. Grayscale cited market performance as a reason to halt the projects.
Grayscale Investments is known for its focus on cryptocurrencies and has previously launched ETFs for Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). The decision not to proceed with these three proposed trusts reflects current market conditions, particularly given the recent volatility in blockchain-related assets.
Written by James Tobias
Bitcoin Desk
