CoinShares has withdrawn its applications for spot ETFs of XRP, Solana (including staking), and Litecoin, and is shifting its focus to higher-margin products.

PANews reported on December 1st that, according to The Block, European digital asset management company CoinShares has filed Form RW with the SEC to withdraw its registration of XRP, Solana Staking, and Litecoin spot ETFs , with no securities sales or transactions having occurred. Simultaneously, it will liquidate its leveraged Bitcoin futures ETF (BTFX). The company is pursuing a merger with Nasdaq-listed Vine Hill Capital, a potential $1.2 billion SPAC deal, expected to be completed this year. CEO Jean-Marie Mognetti stated that the single-asset crypto ETF market is dominated by companies like BlackRock, Fidelity, and Grayscale, offering limited differentiation and sustainable profits. CoinShares will focus on three product categories over the next 12-18 months: crypto equity vehicles, thematic baskets, and actively managed strategies.