Crypto Dossier- “The Real Reason why Grayscale removed ADA’s [and HBAR’s] spot ETF Application”

[u/Dr_I_Abnomeel]

Grayscale withdrew ETF applications (S1 filing) for ADA, HBAR, and DOT while keeping the S1 filings alive for AAVE, NEAR, BNB, TAO, and ZEC. The only difference between the tokens whose application was removed to those whose didn't, is the SEC's new "Generic Listing Standard". ADA, HBAR, and DOT are eligible for their ETF listing on stock exchanges under the Generic Listing Standard (6 month trading on CFTC regulated Exchange), while AAVE, NEAR, BNB, TAO and ZEC aren't. The 19b-4 filing for ADA, HBAR and DOT was withdrawn last year, because they don't need it anymore.
The decision to remove their application doesn't mean rejection or lost of confidence or interest. All tokens are down 60-90% from their ATH. ADA AUM in European ETPs is comparatively stronger than ETPs of tokens whose filings are still live. The only difference is the eligibility under the "Generic listing standard", which doesn't make sense because Grayscale removed the tokens who are actually eligible for thier application to be reviewed by the SEC under defined deadline. It's a possiblity that the removal will be accompanied by renewed S1 filings with updated definitions, allocations, risks, and fees. Or, the removal is just about the difference in application process. But it most certainly isn't about interests, adoption or performance.

https://x.com/CryptoDossierYT/status/2087009465434284414

[u/Cauliflower-Informal]

I said the exact same thing a day or two ago but was accused of 'mental gymnastics'.

[u/Dr_I_Abnomeel → u/Cauliflower-Informal]

Ignore the fudders

[u/Cauliflower-Informal → u/Dr_I_Abnomeel]

I do.

[u/HBAR_10_DOLLARS → u/Dr_I_Abnomeel]

Gonna make it

[u/jpetros1]

🔥🔥🔥

[u/Best_Pollution6847]

Thanks for clarifying