CoinShares Withdraws Filing for Solana, XRP, and Litecoin ETFs in the US
CoinShares has withdrawn multiple crypto ETF registrations and will liquidate a leveraged Bitcoin futures fund while advancing a $1.2B SPAC merger plan.
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Fact Check
The statement is assessed as highly likely to be true based on a strong consensus across multiple authoritative and relevant sources. High-authority news outlets, including Reuters and Yahoo Finance, directly report that CoinShares filed with the U.S. Securities and Exchange Commission to withdraw its applications for ETFs based on Solana, XRP, and Litecoin. This core fact is consistently corroborated by several other crypto-focused and financial news platforms. While a few sources focus primarily on the withdrawal of the Solana and XRP ETFs, they do not contradict the reporting that the Litecoin ETF was also withdrawn; they simply provide partial confirmation. Crucially, none of the provided sources offer conflicting information. The consistency and high authority of the supporting evidence lead to a high confidence level in the statement's accuracy.
Summary
CoinShares filed Form RW with the SEC to withdraw registrations for spot ETFs based on XRP, Solana Staking, and Litecoin, confirming that no securities were sold before the withdrawal. The company will also shut down its leveraged Bitcoin futures ETF as it pursues a $1.2 billion SPAC merger with Vine Hill Capital, targeting completion by the end of the year.
Terms & Concepts
- ETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, holding assets like stocks or cryptocurrencies.
- Staking: A process where cryptocurrency holders lock up their assets to support blockchain network operations, earning rewards in return.
- SPAC (Special Purpose Acquisition Company): A company formed to raise capital through an IPO for the purpose of acquiring or merging with an existing company.