The U.S. asset management giant has accelerated its ETF preparations for two popular altcoins, completing official registrations in Delaware.
Grayscale, one of the leading digital asset managers in the United States, has filed official registrations in Delaware for Cardano and Hedera-based ETFs. Similar filings in the past have often preceded S-1 submissions to the SEC, marking a significant step in the company’s altcoin-focused ETF strategy.
Earlier this year, the SEC began reviewing NYSE Arca’s spot Cardano ETF application and Nasdaq’s Hedera ETF proposal. Grayscale’s move adds to its existing trusts for assets like Dogecoin, Filecoin, Avalanche, and Bittensor. On the same day, the company also launched two new investment trusts targeting DeepBook and Walrus tokens within the Sui blockchain ecosystem.
The market success of Bitcoin and Ethereum ETFs is pushing U.S. fund managers to explore altcoin-based products. Positive regulatory signals from Washington further support this trend, with the SEC approving the “in-kind redemption” model and collaborating with the CFTC to establish a clearer regulatory framework for digital assets.
