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- Zameer Attar
Zameer Attar
- Reviewed by:
Anjali BelgaumkarWriter by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
- Aug 13, 2025 09:08 UTC
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ETF News: Grayscale Registers Cardano and Hedera Trusts, SEC Decision Still Looms
Delaware officially adds Grayscale Cardano (ADA) Trust ETF and the Grayscale Hedera (HBAR) Trust ETF.
Grayscale completes its preliminary step with the registeration and expands its range of crypto products by adding Cardano and Hedera.
However, the SEC decision still not finalized.
On Tuesday, the Grayscale Cardano (ADA) Trust ETF and the Grayscale Hedera (HBAR) Trust ETF were added to the Delaware official registration portal.
The registration of ADA and HBAR establishes both entities as statutory trusts in Delaware, with CSC Delaware Trust Company acting as the registered agent based in Wilmington. The move is a part of a broader strategy to expand Grayscale’s crypto investment products beyond Bitcoin and Ethereum.
Grayscale is expanding its range of crypto products by adding Cardano and Hedera. This move shows growing market interest and confidence in both assets, which could draw more investors.
Can the Delaware Registration Influence the SEC ETF Approval?
Delaware registration is an important part of the process that establishes the proposed fund as a legal entity. While it lays the necessary ground for future regulatory filings and operations, it does not directly guarantee the SEC’s final decision.
After Delaware registration, platforms are required to meet strict SEC standards, like market surveillance, custody, valuation transparency, and investor protection. The registration is a “door-opener” to the regulatory process, but it leaves the SEC approval unforeseen.
SEC’s Approval on Grayscale ETF
Grayscale’s registration with Delaware is a preliminary step, which does not confirm the final approval from the Securities and Exchange Commission (SEC). Instead, the Delaware filings are typically precursors to more formal federal regulatory submissions, such as S-1 or 19b-4 forms required for ETF listings.
Grayscale has filed for Dogecoin, Solana, and XRP ETFs, but the SEC has delayed its decision repeatedly. Now, the deadline for XRP ETF approval or disapproval is expected on October 18, 2025, while the Solana approval is delayed to November 2025.
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FAQs
Unlike their 2.5% Bitcoin Trust fee, Grayscale typically charges 2.25% for altcoin products – a critical cost factor for long-term investors considering ADA/HBAR exposure.
HBAR’s proof-of-stake design may allow Grayscale to offer staking yields – a potential 4-6% annual return that could differentiate it from non-staking crypto ETFs.
Institutional ADA holdings could increase liquidity for Cardano DEXs – TVL on Minswap and Wingriders has already grown 18% since the filing announcement.
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