Key figures: 41% decline in ADA, 54% decline in DOT, 35% decline in HBAR, 70% drawdown in ADA since late February 2025, 80% downward move in DOT, 70% drop in HBAR. Dates: February 2025, August 29, September 9.
Context
Grayscale Investments has dropped plans for exchange-traded funds tied to Cardano’s ADA, Polkadot’s DOT, and Hedera’s HBAR, citing no intention to proceed with the planned distribution of the shares of each trust. The withdrawals were initiated by Grayscale and not rejected by the SEC. The proposed funds were designed to track the value of their respective tokens after fees and expenses. The significant decline in the value of the tokens since the initial filings may have contributed to Grayscale’s decision.
Bottom Line
The withdrawal of these ETF plans may impact investor sentiment and capital allocation in the crypto market, particularly for ADA, DOT, and HBAR. Investors should reassess their portfolios and consider the potential implications of this development on the overall market. The decline in value of these tokens may persist, and investors should exercise caution when making investment decisions.