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المشهد العربي
Gray Scale suspends ETF plans for 3 cryptocurrencies
Gray Scale Investments has decided not to proceed with launching exchange-traded funds linked to private crypto assets for the Cardano, Polkadot, and Hedera networks after submitting official applications to the U.S. Securities and Exchange Commission. This reflects the impact of the decline in the smaller cryptocurrencies and Bitcoin, which has fallen approximately 28% since the beginning of the year, along with some major coins dropping by over 50%. The move comes amid weak trading activity and the trend of trading platforms delisting several coins, illustrating how the ongoing downturn continues to affect companies that were aiming to expand their products for retail investors in the digital currency market.
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