Grayscale Voluntarily Withdraws ADA, DOT, and HBAR ETF Filings
Hedera (HBAR)
Editor:
Eugene Serbin
Cryptonexa.com reports that Grayscale Investments Sponsors, LLC filed voluntary Form RW withdrawals for Cardano, Polkadot, and Hedera on 7 August. The SEC accepted all three submissions within a 190-second window between 4:33:37 p.m. and 4:36:47 p.m. ET. These filings cover registration statements 333-289948, 333-289949, and 333-290129, which had not yet become effective.
Each form states the sponsor does not intend to proceed with the planned share distribution. No preliminary prospectus was distributed and no securities were issued or sold. The withdrawals were deemed granted automatically under Rule 477(b) unless the SEC objected within 15 days.
Exchange listing proposals for these trusts were previously wound down, with NYSE Arca’s withdrawal occurring on 29 September 2025. Nasdaq followed suit on 3 November 2025 for Polkadot and Hedera. The SEC approved generic listing standards on 22 September 2025, published as Exchange Act Release No. 34-103995.
This shift allows qualifying crypto products to list without separate Section 19(b) rule changes. However, sponsors still require an effective S-1 before shares can be sold. Goodwin Law described the generic standards as removing the mechanism used to block crypto ETPs.
Dechert noted some ETPs still require separate SEC listing approval. Grayscale maintains other registrations, including effective statuses for Avalanche and Hyperliquid staking ETFs. The coordinated timing suggests a deliberate cleanup rather than a reaction to external events.
How the market reacted
Whalio's own Binance spot order flow for HBAR, measured when this story was written up on 5 September 2026. Not the outlet's figures.
Whalio spot data for HBAR shows a buy ratio of 55.1% over the last hour, compared to 50.2% over four hours and 53.0% over 24 hours. This indicates that short-term buying pressure is building relative to the broader daily trend. The volume delta reflects this shift, with +$28,156 in the last hour against +$3,426 over four hours and +$422,895 over 24 hours. The volume delta measures the net difference between buy and sell volume, showing where money is flowing. A positive delta means buyers are more aggressive than sellers. The 24-hour cumulative volume delta closed at +$395,385, confirming net inflows over the day. Spot volume reached $6,972,170 with 77,926 trades in 24 hours. Net buying occurred for 17 of the last 24 hours.
The latest daily buy ratio of 50.6% sits at the 71st percentile of the last 324 days, against a median of 49.3% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for HBAR, averaged over the days leading up to the story.
Over the preceding week, HBAR averaged a 53.2% buy ratio, with the latest day showing a 0.2-point decrease. Volume was 1.04 times the average, indicating slightly higher activity than usual. Net buying occurred on 6 of the 7 days, suggesting consistent but not overwhelming demand. The price increased by 3.0% over eight days, with a total volume delta of +$4,334,164. This day is ordinary in terms of buy ratio but slightly above average in volume. The 24-hour buy ratio of 53.0% is close to the weekly average of 53.2%, showing stability. The 24-hour volume delta of +$422,895 contributes to the weekly total of +$4,334,164. This reflects steady accumulation rather than a sudden surge.