CoinShares Ends ETF Bid For Solana While Price Remains Around $130

TLDR

• CoinShares canceled its SEC filings for Solana, XRP, and Litecoin ETFs on November 28, 2025.
• SOL ETFs brought in $369 million during November despite declining crypto prices.
• Bitwise’s staked SOL ETF launched in October with $223 million on day one.
• Solana’s price fell to $120 in November, down 60% from its January 2025 high.

CoinShares has withdrawn its SEC filing for a staked Solana ETF, signaling a shift in the crypto investment landscape. The move comes despite rising investor interest and strong capital flows into existing Solana ETFs. As the asset manager halts its plans, Solana’s price continues to struggle, staying well below its all-time highs. This decision raises fresh questions about the future of crypto ETFs tied to altcoins like SOL, XRP, and Lit

CoinShares Withdraws SEC Filing for Solana ETF

CoinShares has officially retracted its registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed staked Solana exchange-traded fund (ETF). The move came on November 28, 2025, according to an SEC filing that indicated the structuring agreement behind the fund was never finalized.

“No shares were sold, or will be sold,” the company said in the document. CoinShares also withdrew applications for XRP and Litecoin ETFs, leaving the future of these crypto investment products uncertain in U.S. markets.

This development surprised many traders, as CoinShares is a major European digital asset manager with around $10 billion in assets under management. The sudden withdrawal ends plans for three new U.S.-based spot crypto ETFs that were expected to attract institutional and retail interest.

Solana ETFs See Strong Flows Despite CoinShares Exit

Even with CoinShares stepping away, other staked Solana ETFs have shown strong investor demand. Bitwise launched its version in October, drawing $223 million on its first trading day. It quickly gathered about half the assets of REX-Osprey’s staked SOL ETF, which had debuted months earlier.

Together, Solana ETFs attracted more than $369 million in capital flows during November alone. These vehicles advertise 5–7% in staking rewards, which has attracted yield-focused investors. This happened even as Bitcoin and Ethereum ETFs saw record outflows during the same period.

SOL Price Slides Despite ETF Inflows and Corporate Accumulation

Solana’s price has not kept pace with ETF momentum. After reaching a high above $250 in September, SOL declined sharply. It hit a five-month low near $120 in November, about 60% lower than its January 2025 peak of $295.

That January rally was driven by the launch of the Trump-themed memecoin on the Solana network. Despite a recent 8% weekly gain, SOL still trades around $130, reflecting continued market pressure. The overall crypto market fell 1.27% in the last day and is down 18% over 30 days.

Institutional Interest in Solana Remains Strong

While CoinShares stepped back, other institutions are building positions in Solana. Corporate treasuries have increased their SOL holdings above 16 million tokens. This trend began in late summer and accelerated in November, showing steady monthly accumulation.

This continued accumulation shows rising interest in Solana-based investments, even as token prices have struggled. Many corporate entities see long-term potential in the Solana network, especially with the growth of staking and decentralized applications.

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