CoinShares Halts Plans for XRP, Solana, Litecoin ETFs

• Lyla Velez
• November 28, 2025
• News
• 0 Comments

CoinShares, a prominent European digital asset firm, has recently withdrawn its filings for XRP, Solana, and Litecoin ETFs in the U.S. The decision emerged amid increasing competition and comes as CoinShares aligns its strategy with an upcoming Nasdaq listing.

An important strategic move by CoinShares, this withdrawal underscores the highly competitive nature of the U.S. crypto ETF market, with prices reacting modestly to the announcement.

CoinShares, managing around $10 billion in assets, had proposed launching XRP, Solana, and Litecoin ETFs. Withdrawal letters signed by senior officer Charles Butler indicate no sales occurred, reflecting the firm’s focus on other strategic objectives.

“The withdrawal of ETF filings reflects strategic considerations amid a highly competitive market landscape.” – Charles Butler, Senior Financial Officer, CoinShares

The competitive crypto ETF market sees active participation from other firms like Grayscale and Franklin Templeton. CoinShares recently announced a $1.2 billion merger with Vine Hill, preceding its Nasdaq listing.

The immediate market reaction was mild, with XRP dropping less than 0.5% and Solana and Litecoin falling more than 2%. Market dynamics are shifting rapidly with new entrants and regulatory changes.

The financial world observes these shifts as CoinShares’ strategic withdrawal aligns with impending industry changes. Meanwhile, other asset management firms proceed with their ETF filings.

Expectations for regulatory clarity remain high. Observers are keen on how CoinShares’ strategic focus on its Nasdaq listing impacts its future market endeavors and valuation. Bold moves could alter engagements with significant regulatory and financial implications for the broader crypto market.