Grayscale Dips Its Toe Into Cardano and Hedera ETF Waters: SEC Still Scratches Its Head

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On a particularly exciting Tuesday, Grayscale thought it would be a fun idea to add the Grayscale Cardano (ADA) Trust ETF and the Grayscale Hedera (HBAR) Trust ETF to the Delaware official registration portal. Because why not, right? Let’s shake things up a bit!

With that, the ADA and HBAR have officially become “statutory trusts” in Delaware, a place that loves formalities more than anything else. And guess who’s playing the role of the trusted agent? None other than the CSC Delaware Trust Company, based in the sunny town of Wilmington. Grayscale’s big plan? Expand its crypto empire beyond just Bitcoin and Ethereum. How daring!

By adding Cardano and Hedera to its product portfolio, Grayscale is clearly thinking, “Hey, why not see if people will bite?” The crypto world is buzzing, and the idea is to lure more investors into the sea of digital assets, which sounds like a pretty good plan. At least, that’s the theory… 🧐

Can the Delaware Registration Influence the SEC ETF Approval?

Now, let’s talk about this “Delaware registration” thing. It’s a big deal, right? Well, kind of. It does lay the groundwork for future regulatory filings and all that jazz, but let’s be real: it doesn’t guarantee the SEC will jump up and say, “Oh yes, absolutely. We love it!”

After all, being registered in Delaware just means it’s now a “legal entity” in that fine state. But hold your horses, folks-this doesn’t mean the SEC is ready to hand over the approval like it’s a hot potato. Nope, there are some boring things like market surveillance, custody, transparency (yawn), and investor protection that need to be sorted first. It’s all very grown-up stuff. 🎩

The SEC’s Approval on Grayscale ETF

So, Grayscale’s Delaware registration is really just a formality-a “preliminary step” in the grand game of ETF approvals. All it does is make the SEC nod thoughtfully and say, “Yeah, we see you, Grayscale.” But the real paperwork? That’s the stuff that comes next, like the S-1 or 19b-4 forms, which are just as fun as they sound!

And guess what? Grayscale’s already got some other ETFs in the works-like for Dogecoin, Solana, and XRP. But the SEC has been dragging its feet like a cat avoiding bath time. The deadline for the XRP ETF decision? October 18, 2025. And Solana? Oh, just a casual delay until November 2025. The SEC’s timing is truly something to behold. ⏳

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2025-08-13 12:45