Grayscale Investments has withdrawn registration statements for three proposed single-asset exchange-traded funds tied to Cardano’s ADA, Polkadot’s DOT and Hedera’s HBAR. The asset manager filed three Form RW requests with the U.S. Securities and Exchange Commission (SEC) on Aug. 7, saying it “does not intend to proceed with the planned distribution” of the trusts’ shares. The withdrawals were initiated by Grayscale under Rule 477 of the Securities Act of 1933, rather than following a formal SEC rejection, and the registrations had not become effective or resulted in any securities being issued or sold. The decision comes as the proposed funds’ underlying tokens have declined sharply: ADA is down more than 41% year to date, DOT about 54% and HBAR roughly 35%, according to market data cited in coverage of the withdrawals. It also forms part of a broader cooling in single-asset altcoin ETF proposals, after Bitwise withdrew a registration for a proposed Bitcoin and Ethereum ETF. Grayscale still operates roughly 17 ETF products, including its Bitcoin Mini Trust and Ethereum Staking Mini ETF. The withdrawals narrow the firm’s proposed single-token pipeline and suggest issuers may increasingly prioritize assets with clearer institutional demand, although Grayscale could re-file if market conditions change.