Grayscale Pulls Three Altcoin ETF Filings: Crypto Market Update, 10 August 2026

By David · Market Update · 2026-08-10

Grayscale withdrew its SEC registration statements for Cardano, Hedera, and Polkadot ETFs within a three-minute window on Friday. No reason was given. The coordinated pullback reverses the firm's earlier push to bring single-asset trusts to U.S. markets and removes the prospect of institutional inflows via spot ETFs for these tokens.

The withdrawal signals that issuers see a lower probability of SEC approval for these specific assets under current rules. Traders should watch for relative underperformance in ADA, HBAR, and DOT compared to BTC and ETH in the coming sessions.

Bitcoin Reclaims $65K Ahead of CPI

Bitcoin topped $65,000 on the back of a weak U.S. jobs report that reduced expectations for Fed rate hikes. Nonfarm payrolls contracted by 23,000 in July, the first negative print in years, while average hourly earnings rose just 0.1% against a 0.3% forecast. The unemployment rate ticked down to 4.1%, slightly better than expected.

That combination is decisively dovish. Stagnant wage growth and a contracting labor market signal a rapidly cooling economy, one that likely needs urgent rate cuts. A weaker dollar and front-running of a more accommodative Fed typically boost BTC and ETH.

The next catalyst is July CPI, due Wednesday at 8:30 a.m. ET. A hotter-than-expected print could reverse the move toward $60,000. As of August 10, BTC sits at $65,100, up 0.33% over three days, while ETH is at $1,919, also up 0.33%.

BlackRock Dominates ETF Inflows

Spot Bitcoin ETFs recorded their fifth consecutive day of net inflows on August 7, while spot Ether ETFs secured their fourth straight day. BlackRock led the charge: IBIT captured $79 million, or 76% of the three-day Bitcoin inflow haul, and ETHA drove 83% of total Ether ETF gains over the same period.

On Thursday, combined inflows topped $220 million, with IBIT drawing $128.33 million and ETHA attracting $81.14 million. The sustained streak reflects a return of institutional risk appetite, fueled by cooling jobs data and rising rate-cut expectations.

But BlackRock's overwhelming dominance means market direction is hypersensitive to a single institution's allocation patterns. A slowdown in IBIT or ETHA inflows could trigger a sharp reversal across both BTC and ETH.

Intesa Sanpaolo Rotates from BTC to Staked ETH

Italy's largest bank cut its iShares Bitcoin Trust holdings by 94% to $1.36 million while tripling its stake in BlackRock's iShares Staked Ethereum Trust to $3.1 million. The bank also held a $7.6 million position in ARKB and opened a 500,000-share put position on IBIT.

The rotation from spot BTC to staked ETH highlights growing institutional appetite for staking yields, which run around 3-4%. The put position suggests tactical hedging against further BTC downside, while the ETH accumulation during a 25% price dip shows structural long-term conviction.

Ethereum Staking Yields Get a Reprieve

EIP-8363 has been removed from the immediate inclusion list, preserving current ETH staking rewards and MEV structures. The proposal would have compressed yields from 2.6% to 1.2%, so its delay offers relief for DeFi carry trades and Aave utilization.

Elsewhere, Zcash is gaining momentum from its Ironwood migration, with nearly half of Orchard successfully moved and auto-migration on Android reducing rollout risk. Polygon continues to dominate stablecoin activity, recording 633.6 million transfers in July and leading APAC volume for 14 of the last 16 months.

Solana is targeting a slot time reduction from 350ms to 200ms, but a critical August 22 signaling deadline looms for proposed tokenomics changes. Failure to pass could stall the asset's momentum.

Price Action and Scanner Signals

SOL led the majors with a 4.6% three-day gain to $77.02, while BNB rose 2.16% to $604.90. XRP gained 1.32% to $1.034, and DOGE added 0.57% to $0.07. BTC and ETH both edged up 0.33%.

Our scanners flagged DEEP most often with 11 signals, all bullish with new longs. ZEST and BMT each drew 8 signals, both bearish with new shorts. IOTX saw shorts building, while TUT and BROCCOLI attracted new longs. PEOPLE and BSV rounded out the list.

• DEEP: 11 signals, bullish new longs

• ZEST: 8 signals, bearish new shorts

• BMT: 7 signals, bearish new shorts

• IOTX: 7 signals, shorts building

• TUT: 7 signals, bullish new longs

• BROCCOLI: 6 signals, bullish new longs

• PEOPLE: 6 signals, bearish new shorts

• BSV: 6 signals, bullish new longs

Community Wins

Members had a strong window. 1goldenboyy caught a BICO short for +328.1% in 4h 34m at 10x, and later a TUT long for +121.5% in 57m. stocktraderdk rode a BMT long for +244.6% in 4h 25m at 10x, with an R multiple of 2.51. pgbz took a STG long for +153.8% over 4d 1h, and a ZRO long for +102.7% over 7d, both at 10x.

These are retrospective plays, not signals. But they show the kind of setups the community is finding in this macro-driven tape.

What to Watch

Wednesday's CPI print is the big one. A hot number could unwind the current relief rally quickly. Also watch for any further ETF flow slowdown, the Solana tokenomics deadline on August 22, and whether BTC's thin liquidity, with coin-denominated spot volume at 2019 lows, amplifies any sell pressure from the Coldcard exploit's 1,719 BTC.

This is market commentary, not financial advice. Always do your own research.