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- CoinShares has withdrawn its registration filings for three crypto ETFs tied to XRP, Solana, and Litecoin.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.