Grayscale Hedera ETF and Cardano Trust SEC Path Gains Momentum

Grayscale Hedera ETF and Cardano registered in Delaware

Grayscale, a crypto asset manager has recently registered two new ETFs (exchange-traded funds) that are Cardano ETF and the second one Grayscale Hedera ETF as statutory trust in Delaware. The information has recently been shared by The Block on its X (formerly twitter) handle.

Source: X

The registration was completed through the official access portal on August 12, 2025 and lists CSC Delaware Trust Company as the registered agent. These are the firm’s first altcoin exchange-traded funds registrations for Cardano and Hedera which is joining its existing altcoin trusts for the assets like Dogecoin, Filecoin, Avalanche and Bittensor.

Filings like these often come before official S-1 submissions to the U.S Securities and Exchange Commission (SEC) which suggests that the formal exchange-traded funds approval efforts could be underway.

SEC filing already in motion

In early time of the current year the Securities and Exchange Commission (SEC) acknowledged NYSE Arca’s 19b-4 form the spot Cardano ETF and Nasdaq’s form for the Grayscale Hedera ETF.

Although, the regulator has yet to greenlight these products and the new Delaware registrations will add momentum to the launch timeline.

New Trusts for Sui-Based projects

On the same day Grayscale introduced two single asset investment trusts offering exposure to the native tokens of DeepBook(DEEP) and Walrus(WAL) and both protocols within the Sui blockchain ecosystem.

DeepBook operates as a central limit order book and serves as liquidity layer for the decentralized finance while on the other hand the Walrus functions as a scalable blockchain-neutral data storage solution.

This comes with applications in gaming and social platforms. The Grayscale already offers a trust for the Sui token itself.

Growing push for Altcoin ETFs

The U.S investment managers have been increasingly exploring altcoin based ETFs which is encouraged by the success of Bitcoin and Ether funds.

SEC’s approval of in-kind redemptions for BTC and ETH ETFs are now adding confidence. The SEC’s Project Crypto in partnership with the Commodity Future Trading Commission (CFTC) is also working on clarifying which tokens qualify as securities.

Conclusion

The firm’s latest move from registering  Grayscale Hedera ETF and Cardano to launching Sui ecosystem trust. It mirrors expanding crypto investment options. If the regulatory progress continues then these products could open new doors for institutional and retail investors eager to diversify beyond Bitcoin and Ether.