CoinShares Withdraws XRP, Solana Staking and Litecoin ETF Filings - Unchained

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CoinShares has withdrawn its U.S. spot exchange-traded fund (ETF) registration filings for XRP, Solana staking, and Litecoin.

CoinShares CEO Jean-Marie Mognetti cited a strategic shift away from single-asset crypto ETFs in a crowded and competitive U.S. market dominated by large traditional financial firms.


This story is an excerpt from the Unchained Daily newsletter.

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Instead, CoinShares plans to focus on crypto equities, thematic baskets, and multi-asset active strategies.

Other issuers such as Grayscale, Bitwise, and Canary Capital have successfully launched XRP and Solana-related ETFs in the U.S., contributing to the increasing competition in the crypto ETF market.

CoinShares’ withdrawals come as the firm prepares for a $1.2 billion merger to go public on Nasdaq.

XRP-1.59%
SOL-2.19%
LTC-0.95%
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