Grayscale Registers Cardano and Hedera ETFs in Delaware

Grayscale Investments has taken another step toward expanding its altcoin ETF offerings, registering the Grayscale Cardano Trust ETF and Grayscale Hedera Trust ETF on Delaware’s official corporate registry this Tuesday.

Historically, such state-level registrations have often preceded the filing of an official S-1 form with the U.S. Securities and Exchange Commission (SEC). Earlier this year, the SEC acknowledged NYSE Arca’s 19b-4 application for Grayscale’s spot Cardano ETF and Nasdaq’s 19b-4 form for its Hedera ETF, indicating that the regulatory process is already in motion.

These are Grayscale’s first Cardano and Hedera ETF trust registrations in Delaware, though the asset manager already operates similar altcoin investment trusts for Dogecoin, Filecoin, Avalanche, and Bittensor. In a separate move on Tuesday, Grayscale also launched two new investment trusts offering exposure to DeepBook and Walrus, two projects providing trading and data infrastructure within the Sui blockchain ecosystem.

Src: Mark (X)

The push toward altcoin ETFs comes amid strong market appetite following the success of spot Bitcoin and Ether ETFs. Institutional optimism is also being buoyed by positive regulatory developments in Washington, including the SEC’s recent approval of in-kind redemptions for BTC and funds.