Solana, XRP ETF Bids Pulled by CoinShares: Focus Shifts to Higher-Margin Crypto
Altcoin market sentiment falls; institutional crypto bids withdrawn. Digital assets, investment trends, crypto ETFs. CoinShares Abandons Solana & XRP ETF Bids: A Pivot to Higher-Margin Crypto Products 📌 Event Background and Significance ⚖️ In a surprising turn, CoinShares, a prominent European digital asset manager, has withdrawn its applications for several spot crypto Exchange Traded Funds (ETFs) with the U.S. Securities and Exchange Commission (SEC). This includes highly anticipated ETFs for Solana (SOL) , XRP , and Litecoin (LTC) . This move signals a significant shift in CoinShares' U.S. strategy, reflecting the evolving landscape of the crypto ETF market and the increasing pressure on profit margins. 📊 The ETF race has intensified since the approval of the first spot Bitcoin ETFs in early 2025. However, the market has quickly become saturated, with a fe...