Delaware's official registration portal has added the Grayscale Cardano Trust ETF and the Grayscale Hedera Trust ETF to its list of entities on Tuesday.
Such registrations in the past have preceded official S-1 filings with the Securities and Exchange Commission. The SEC has already acknowledged NYSE Arca’s 19b-4 form for Grayscale's spot Cardano ETF and Nasdaq's form for the Hedera ETF earlier this year.
These are Grayscale's first altcoin ETF trust registrations on the Delaware portal. The investment manager has existing altcoin investment trust registrations for assets like Dogecoin, Filecoin, Avalanche, and Bittensor.
The Block has reached out to Grayscale for confirmation on the latest registrations and for further comment.
Also on Tuesday, Grayscale launched two investment trusts offering exposure to the native tokens of DeepBook and Walrus, both of which provide trading and data infrastructure within the Sui blockchain ecosystem.
U.S. investment managers continue to push efforts to launch altcoin-based ETFs, following the immense success of bitcoin and ether-based funds. These efforts appear to be encouraged by positive developments in Washington, such as the SEC's approval of in-kind redemptions for spot BTC and ETH ETFs.
The SEC is advancing "Project Crypto" in collaboration with the Commodity Futures Trading Commission to provide a clear regulatory framework for the digital asset market. The project aims to distinguish which cryptocurrencies are considered securities and which are not, addressing a major concern that deterred firms from entering the crypto space.
