CoinShares withdraws ETF applications for XRP, Solana, and Litecoin

Jinse Finance reported that CoinShares, the largest digital asset management company in Europe, officially withdrew its applications for XRP, Solana Staking, and Litecoin ETF submitted to the U.S. Securities and Exchange Commission (SEC) on November 28. The company also announced that it will gradually close its Bitcoin futures leveraged ETF product (BTFX). This decision comes as CoinShares prepares to go public in the United States through a $1.2 billion SPAC merger with Nasdaq-listed Vine Hill Capital, a deal expected to be completed by the end of this year. After the merger, CoinShares will rank among the world’s top four crypto ETF asset management companies, alongside BlackRock, Fidelity, and Grayscale.