Summary
- CoinShares said it has withdrawn its application for a Solana staking ETF that it was pursuing in the United States.
- The company reportedly withdrew the S-1 registration under the judgment that a review of the product structure was necessary.
- CoinShares said that, separate from the U.S. market withdrawal, it is reorganizing Solana-related products and seeking exposure approaches aligned with regulatory changes and market demand.
CoinShares has officially withdrawn its plan for a Solana (SOL) staking exchange-traded fund (ETF) that it was pursuing in the United States.
On the 28th (local time), CoinShares requested that the U.S. Securities and Exchange Commission (SEC) withdraw the S-1 registration statement it had submitted for the Solana staking ETF.
CoinShares last updated the ETF filing on September 26, but it appears to have ultimately determined that a review of the product structure was necessary. Staking ETFs require selecting reliable validators, etc., to secure yields from staked assets, so designing the structure is relatively complex.
CoinShares currently operates a Solana-based staking exchange-traded product (ETP) on the Frankfurt Stock Exchange; its assets under management (AUM) exceed $10 billion, and its share of the European cryptocurrency ETP market is about 34%.
The company said that, separate from the U.S. staking ETF withdrawal, it is reorganizing Solana-related products and is exploring exposure approaches better aligned with changes in the regulatory environment and market demand.
Doohyun Hwang
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