Grayscale, a crypto asset manager, has recently registered two new exchange-traded funds: Grayscale Hedera ETF and Cardano ETF in Delaware.
ETF Registration in Delaware
The registration was completed through the official access portal on August 12, 2025, and lists CSC Delaware Trust Company as the registered agent. These funds are the firm's first altcoin ETF registrations for Cardano and Hedera, joining existing funds for assets like Dogecoin, Filecoin, Avalanche, and Bittensor.
Filing with the SEC
Earlier this year, the U.S. Securities and Exchange Commission (SEC) acknowledged NYSE Arca’s 19b-4 form for the Cardano ETF and Nasdaq’s form for Grayscale Hedera ETF. However, the regulator has yet to approve these products, and the new Delaware registrations may add momentum to the launch.
Expansion of Funds for Sui-Based Projects
On the same day, Grayscale introduced two single-asset investment trusts offering exposure to the native tokens of DeepBook (DEEP) and Walrus (WAL), both of which are within the Sui blockchain ecosystem. DeepBook operates as a central limit order book and serves as a liquidity layer for decentralized finance, while Walrus functions as a scalable blockchain-neutral data storage solution.
Grayscale's recent registration of ETFs for Cardano and Hedera, along with the launch of Sui ecosystem trusts, reflects the expanding investment options in the crypto space. If regulatory progress continues, these products could open new avenues for institutional and retail investors.
