CoinShares withdraws U.S. launch plans for XRP (XRP), Solana (SOL), and Litecoin (LTC) ETFs
Summary
- CoinShares said it has withdrawn plans to launch U.S. ETFs for virtual assets including XRP (XRP), Solana (SOL), and Litecoin (LTC).
- It said the decision is a strategic adjustment to focus on reorganizing its existing business portfolio in response to the U.S. ETF market restructuring and intensified competition.
- It reported that competition in the U.S. altcoin ETF market is accelerating, but uncertainties such as regulatory clarity and market volatility remain.
European virtual asset (cryptocurrency) manager CoinShares has withdrawn plans to launch exchange-traded funds (ETFs) for XRP (XRP), Solana (SOL), and Litecoin (LTC) in the United States. This decision is interpreted as part of a strategic adjustment amid recent moves to reorganize the ETF market.
On the 28th (local time), according to crypto-focused media CryptoBriefing, CoinShares decided to halt preparations to launch ETF products in the U.S. and focus on reorganizing its existing business portfolio.
It is reported that CoinShares judged a cautious approach was necessary amid the competitive landscape of virtual asset ETFs such as Bitcoin (BTC) and Solana (SOL), which have been approved successively in the U.S. market. However, the company did not rule out the possibility of reviewing its ETF strategy while observing future changes in market conditions.
Meanwhile, the U.S. virtual asset ETF market has seen competition accelerate as launches of altcoin ETFs such as XRP and SOL have been pursued in succession. However, assessments say uncertainties such as regulatory clarity and market volatility still exist.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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