Grayscale withdrew its ETF applications for Cardano, Hedera, and Polkadot this week, prompting questions about whether altcoin ETFs are losing momentum. Zach Pandl of Grayscale pushed back on that read.
“It would be a mistake to say that altcoins in some broader sense are dead,” Pandl said, calling the crypto asset class large and diverse, with many applications beyond Bitcoin still in early stages, including stablecoins, tokenized assets, and perpetual futures.
Pandl said Grayscale continues evaluating market demand and technology outlook to decide which products to launch, adding that not every digital asset will succeed the way Bitcoin has. He said the firm remains selective but sees continued opportunity across the broader altcoin space.
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