Grayscale withdraws ADA, HBAR, DOT ETF applications—altcoin ETF dreams shattered? According to the SEC website, Grayscale has withdrawn the S-1 registration applications for the Cardano (ADA), Hedera (HBAR), and Polkadot (DOT) trusts, meaning these altcoin ETFs won’t be hitting the market anytime soon. This marks Grayscale’s first major retreat after the success of Bitcoin and Ethereum ETFs. Bad news for the three projects: ETFs were once seen as a hallmark event for 'institutional adoption,' but now that path is temporarily blocked.