Overview
- On Nov. 28–29, CoinShares filed SEC Form S‑1 withdrawals for proposed XRP, Solana staking and Litecoin ETFs, stating the transactions were not effectuated and that no shares were or will be sold, with letters signed by CFO Charles Butler.
- CEO Jean‑Marie Mognetti said U.S. single‑asset crypto ETPs have become commoditized and concentrated among large issuers, leaving little room for differentiated products with sustainable margins.
- The company plans to redirect resources over the next 12–18 months to crypto equity exposure vehicles, thematic baskets, and actively managed or hybrid strategies tailored for the U.S. market.
- CoinShares is preparing to list on Nasdaq through a $1.2 billion merger with Vine Hill Capital and reports roughly $10 billion in assets under management and a leading European ETP position.
- Rival staked‑Solana funds continue to pull in capital, with about $369 million of November inflows and Bitwise attracting roughly $223 million on its first day, even as SOL’s price has slid toward $120–$130.