CoinShares Withdraws XRP, Solana and Litecoin ETF Registrations

CoinShares, which manages $10 billion in assets, has withdrawn SEC registration statements for three planned crypto ETFs covering XRP, Solana and Litecoin. CEO Jean-Marie Mognetti cited intense market saturation, with traditional finance giants now controlling over 90% of crypto ETF inflows. The firm will instead focus on developing thematic crypto baskets and actively managed strategies over the next 12 to 18 months.