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CoinShares has officially withdrawn its plans to launch three cryptocurrency exchange-traded funds: the Solana Staking ETF, the XRP ETF, and the Litecoin ETF. Updated filings submitted to the U.S. Securities and Exchange Commission (SEC) confirmed that the issuer will no longer move forward with any of the proposed products. Each withdrawal was made through a Form RW, which stated that no shares were sold and that the earlier S-1 registrations were never executed, effectively ending the company’s ETF ambitions for these assets.
The notice for the Solana Staking ETF referenced the original S-1 filed in June, along with subsequent amendments submitted from July to September. CoinShares clarified that no transactions occurred related to the proposed structure. A similar withdrawal was filed for the XRP ETF, which had undergone multiple amendments through August and October. The XRP filing also highlighted that the planned framework could not be implemented as expected. This development follows other recent XRP-related filing changes in the industry, including Canary’s removal of a key SEC clause.
CoinShares also retracted its Litecoin ETF registration, initially filed in January. Across all three filings, the company reiterated that no securities were sold and that the transactions tied to the registrations never materialized. Each withdrawal letter was signed by Charles Butler, the firm’s senior financial officer.
The timing of these withdrawals suggests a strategic pause amid rapidly shifting regulatory expectations and intensifying competition in the crypto ETF market. The SEC recently withdrew delay notices on Solana and XRP ETF reviews, signaling potentially faster decision-making. Meanwhile, other asset managers continue to push forward, with Franklin Templeton submitting its final Solana ETF registration following positive progress with its XRP ETF.
Following CoinShares’ announcement, market prices reacted modestly. According to TradingView data, XRP slipped less than 0.5%, while Litecoin (LTC) and Solana (SOL) declined by more than 2%.
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