CoinShares withdraws US spot ETF filings for XRP, Solana and Litecoin ahead of Nasdaq listing
CoinShares withdrew its US spot ETF applications for XRP, Solana, and Litecoin to focus on higher-margin products.Summary
CoinShares, Europe's largest digital asset manager, has formally withdrawn its registration statements filed with the SEC for proposed US spot ETFs covering XRP, Solana Staking, and Litecoin. This decision coincides with the firm's impending public listing in the US via a SPAC merger with Nasdaq-listed Vine Hill Capital.
CEO Jean-Marie Mognetti stated that opportunities for differentiation and sustainable margins in the single-asset crypto ETF space are limited due to the dominance of major players like BlackRock and Fidelity. CoinShares is streamlining its U.S. product lineup, which also includes winding down its Bitcoin Futures Leveraged ETF, to redirect resources toward innovative products like crypto equity exposure vehicles, thematic baskets, and actively managed strategies.
The withdrawal signals a strategic pivot away from competing directly in the single-asset spot ETF market, echoing industry sentiment that diversified crypto portfolios are the next major focus.
(Source：The Block)