Grayscale Withdraws Cardano ADA, Hedera ETF Registrations

Grayscale Investments has withdrawn its SEC registrations for Cardano (ADA), Hedera (HBAR) and Polkadot (DOT) crypto ETFs. The crypto asset manager claimed it does not intend to proceed with the planned distribution. The prices of HBAR, ADA and DOT all fell in the last 24 hours following Grayscale’s ETF application withdrawals.

Grayscale filed three Form RWs with the U.S. Securities and Exchange Commission (SEC). The crypto asset management firm requested the regulator to remove S-1 submissions for the Grayscale Cardano Trust ETF, then the Grayscale Hedera Trust ETF, and the Grayscale Polkadot Trust ETF. The investment manager company cited Rule 477 under the Securities Act of 1933 to withdraw the respective Form S-1 registration statements, amendments, and exhibits. The S-1s were initially filed in late August and early September last year amid a massive push for crypto ETFs.

… Continue reading the full article at the original source below.