CoinShares Withdraws US Spot ETF Filings

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Ahead of its planned Nasdaq listing, European digital asset giant CoinShares has formally withdrawn its applications for US spot XRP ETF, Solana Staking ETF, and Litecoin ETF.

The firm cited an increasingly crowded market dominated by traditional finance heavyweights like BlackRock and Fidelity, where opportunities for differentiation are limited.

This strategic retrenchment comes as CoinShares prepares to finalize a $1.2 billion SPAC merger, positioning it among the top global crypto asset managers even as it winds down niche products, including a Bitcoin futures leveraged ETF.