Grayscale voluntarily withdrew SEC registration statements on Aug. 7 for proposed Cardano, Polkadot and Hedera ETFs, leaving no active single-asset spot ADA ETF application in the United States and ending the current process without an SEC rejection. Cardano futures on CME then appeared to clear the SEC's six-month trading threshold on Aug. 9 under generic listing standards for commodity-based trust shares, which could simplify future exchange listing procedures if other conditions are met, though no approval has been granted and an effective Securities Act registration would still be required. ADA traded around $0.188 on Aug. 11, back below $0.20 after an early-August move toward $0.21, as analyst Ali Martinez, also known as Ali Charts, pointed to a drop in 1 million to 10 million ADA wallets, an MVRV death cross and a TD Sequential sell signal that he said could put $0.17 and then $0.144 in focus if support fails. Countervailing factors cited in market commentary included an oversold RSI near 25, exchange outflows, support near the 20-day EMA and Supertrend, Cardano's July 18 Van Rossem hard fork and reported Hydra performance improvements.