Home›Crypto›Altcoins›Grayscale withdraws three altcoin ETF registrations wi…

Grayscale withdraws three altcoin ETF registrations within minutes

The withdrawals remove the current S-1 registration statements for Cardano, Hedera, and Polkadot, without any separate reason cited beyond Grayscale not intending to proceed.

Reported · Written up by our desk · Altcoins

Grayscale withdrew registration statements for three planned altcoin trust ETFs in filings accepted 190 seconds apart on Aug. 7, according to EDGAR records reviewed by CryptoSlate. The filings began with the Grayscale Cardano Trust ETF at 4:33:37 p.m. ET, followed by the Grayscale Hedera Trust ETF at 4:34:55 p.m. and the Grayscale Polkadot Trust ETF at 4:36:47 p.m.

In each withdrawal request, Grayscale said it does not intend to proceed with the proposed distribution of ETF shares. The documents also state the registration statements were not declared effective, and that no securities would be issued, sold, or have a preliminary prospectus distributed under the filings.

CryptoSlate reports that the withdrawals were requests to withdraw S-1 registration statements under SEC Rule 477, not SEC orders rejecting the proposed ETFs. The filings provide no additional commercial or regulatory reason for ending the registrations, and related exchange listing rule proposals were already inactive.

As of an Aug. 8 review of EDGAR, CryptoSlate found other Grayscale altcoin ETF registrations, including proposed Bittensor, Aave, and BNB products, remained preliminary and had not become effective. SEC effectiveness notices for two staking-focused Grayscale ETFs were issued earlier for the Avalanche Staking and Hyperliquid Staking products, but the notice alone does not indicate when trading began, the outlet added.

Latest closeBNB $602.26 ▲0.3%

More like this

Sources