CoinShares Withdraws Plans For Solana, XRP And Litecoin ETFs In the US

TLDR

Table of Contents

CoinShares withdrew ETF filings for Solana, XRP, and Litecoi,n citing no sales of securities.
SEC filings show all transactions tied to the ETFs were not executed.
The move follows CoinShares’ $1.2B merger and Nasdaq listing plans.
Competing XRP ETFs in the US have gathered over $800M in assets this year.

SEC Filings Confirm Withdrawal of Crypto ETF Plans

CoinShares, a leading digital asset investment company in Europe, has officially ended its plans to launch three cryptocurrency exchange-traded funds (ETFs) in the United States. According to updated filings with the U.S. Securities and Exchange Commission (SEC), CoinShares has withdrawn its registration statements for ETFs tied to Solana (SOL), XRP, and Litecoin (LTC).

The filings were submitted using Form RW, which is a formal request to withdraw a registration. Each request confirmed that no securities were sold and that the proposed transactions did not proceed. These updates follow earlier S-1 filings and amendments made between January and October 2025.

All three filings were signed by Charles Butler, a senior financial officer at CoinShares. The documents confirmed that CoinShares no longer intends to move forward with any of the three ETF products in the US market.

Strategic Pause Amid Broader Market and Listing Plans

CoinShares’ decision to abandon its ETF plans comes shortly after it disclosed a $1.2 billion merger with Vine Hill Capital Investment. The merger is aimed at taking CoinShares public on the Nasdaq stock exchange. The company has not publicly linked the ETF withdrawal to the merger, and no official explanation has been provided.

The competitive landscape of the crypto ETF market in the US may also be influencing issuer decisions. Recent ETF launches tied to digital assets have seen varying levels of success. While CoinShares has withdrawn, other firms such as Franklin Templeton are advancing their plans, including a Solana ETF registration.

The ETF market for digital assets has become more dynamic, especially as the SEC has started speeding up its approval timelines. Some earlier delays in ETF reviews for Solana and XRP have been removed, suggesting quicker evaluations moving forward.

XRP and Solana ETF Activity Continues Elsewhere

Despite CoinShares exiting the space, other issuers are finding traction with similar products. Several US-listed XRP ETFs have launched in 2025 from providers including REX-Osprey, Canary Capital, Bitwise Asset Management, and Grayscale. Together, these funds have attracted more than $800 million in assets under management.

Solana-based funds have also shown consistent demand and returns, although they remain in a developing phase within the US market. Litecoin, while less prominent in current ETF strategies, still garners investor interest during volatile price movements.

CoinShares had originally filed for the Solana Staking ETF in June, followed by updates through September. Its XRP ETF saw amendments in August and October, while the Litecoin ETF filing dates back to January. All filings showed no executed transactions and no securities sales.

CoinShares Maintains Focus on European Market

CoinShares currently manages around $10 billion in assets and holds a 34% market share in Europe’s digital asset exchange-traded product space. It remains the fourth-largest digital asset ETP provider worldwide.

Although it has put its US ETF ambitions on hold for now, the firm continues to lead in the European market. Its strategic shift comes at a time when issuers are reassessing product launches due to timing, demand, and regulatory expectations.

Following the announcement, the market prices of the three cryptocurrencies involved declined. Solana and Litecoin fell by over 2%, while XRP dropped by under 0.5%, according to TradingView data.

The company has not commented further on whether it plans to reenter the US ETF market in the future.