Delaware Added Grayscale Cardano Trust ETF and Hedera Trust ETF: Here's The Update!

The state of Delaware has officially listed the Grayscale Cardano Trust ETF and the Grayscale Hedera Trust ETF in its corporate registry. Published on Delaware’s official registration portal, signals that Grayscale may be preparing for the next step toward launching these altcoin-based exchange-traded funds.

For those following ETF developments in the United States, Delaware’s registration is often more than just a formality. 

Similar filings in the past have preceded S-1 submissions to the U.S. Securities and Exchange Commission (SEC), which is a required step before such funds can be offered to the public. 

In this case, it adds to the growing speculation that Grayscale could be moving closer to making these altcoin ETFs a reality.

From Registration to Potential SEC Filings

Both the Cardano ETF Delaware and Hedera ETF Delaware registrations were posted on Tuesday, August 12, 2025. 

These filings follow earlier acknowledgements by the SEC of NYSE Arca’s 19b-4 form for Grayscale’s spot Cardano ETF and Nasdaq’s form for the Hedera ETF. This means that the procedural groundwork has already been laid for further regulatory review.

This is a notable milestone for Grayscale as these are the first altcoin ETF trust registrations to appear for Cardano and Hedera on Delaware’s official portal. 

Grayscale already has other altcoin-related trust registrations, including Dogecoin, Filecoin, Avalanche, and Bittensor. 

Read also: How BlackRock Dominates the Bitcoin ETF Market

The CSC Delaware listing of these new trusts strengthens market expectations that more diverse crypto-based ETFs could soon be available to investors.

Expanding the Altcoin ETF Market

The addition of the Grayscale Cardano Trust ETF and Hedera Trust ETF comes at a time when U.S. investment managers are expanding their altcoin ETF offerings. 

The push follows the strong market performance of Bitcoin and Ether-based ETFs, which have attracted significant institutional and retail investor interest.

In another move on the same day, Grayscale also introduced two new investment trusts offering exposure to DeepBook and Walrus, projects that provide trading and data infrastructure within the Sui blockchain ecosystem. 

This reflects the firm’s broader strategy of diversifying its portfolio and giving investors access to a wider range of blockchain assets.

Read also: Trump’s Bitcoin ETF Update: Here Are the Details

Regulatory Climate and Future Outlook

Regulatory conditions in the United States are gradually becoming more favorable for cryptocurrency-based ETFs. The SEC recently approved in-kind redemptions for spot Bitcoin and Ether ETFs, a step that many view as a signal for more product approvals ahead.

The SEC is also collaborating with the Commodity Futures Trading Commission under Project Crypto. This initiative aims to establish a clearer regulatory framework for digital assets, including determining which cryptocurrencies should be classified as securities. 

Such clarity could reduce uncertainty for investment managers and encourage the launch of more altcoin-focused ETFs in the future.

If the path toward approval continues, the Grayscale Cardano Trust ETF and Grayscale Hedera Trust ETF could become key additions to the growing list of cryptocurrency ETFs available to U.S. investors.

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FAQ

Does Cardano have an ETF?

Yes, the 21Shares Cardano ETP (AADA) tracks the performance of Cardano's native cryptocurrency, ADA. This allows investors to access Cardano in a regulated and transparent way.

What will Cardano be worth in 5 years?

Based on a prediction of a 5% yearly increase, the price of Cardano would be approximately $0.83 in 2026 and $1.01 in 2030.

What is the Hedera coin?

HBAR is the native token of the Hedera network. It is used to pay for transactions and to secure the network through a process called staking. Hedera is known for its strong governance model, with members from many large and well-known companies.

Can HBAR reach $5?

According to some experts, the price of HBAR could rise from its current level to $5 by 2025, driven by an increase in market capitalization and adoption.

What company is HBAR?

Hedera (HBAR) is a public, enterprise-grade network designed for the decentralized economy. It allows individuals and businesses to build powerful decentralized applications (dApps).