CoinShares ends bid to launch XRP, Solana, and Litecoin ETFs in the US
Key Takeaways
CoinShares has withdrawn its registration filings for three crypto ETFs tied to XRP, Solana, and Litecoin.
The move comes as CoinShares intends to list on Nasdaq.
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CoinShares, Europe’s leading digital asset investment firm, on Friday filed with the SEC to withdraw its registration statements and amendments for three crypto exchange-traded products, including the CoinShares XRP ETF, CoinShares Solana staking ETF, and CoinShares Litecoin ETF, concluding its bid to bring them to market.
The move follows CoinShares’ September disclosure of a $1.2 billion merger with Vine Hill Capital Investment aimed at taking the company public on Nasdaq. It’s unclear why the firm chose to scrap its US ETF plans.
CoinShares manages about $10 billion in assets, making it the world’s fourth-largest digital asset ETP manager and the top player in Europe with 34% market share.
Several spot XRP ETFs have debuted in the US this year, including offerings from REX-Osprey, Canary Capital, Bitwise Asset Management, and Grayscale Investments. These funds have collectively accumulated over $800 million in assets under management.
US-listed Solana funds have likewise shown steady, positive results.
