CoinShares withdraws SEC filing for staked Solana ETF
Analysis
Price Impact
LowCoinshares withdrew an sec filing for a staked solana etf. this was for a deal that was 'never effectuated' and 'no shares were sold.' while the withdrawal removes a potential institutional investment vehicle, it wasn't an active product, thus the direct impact on sol's price is minimal, especially since other staked sol etfs are already live and attracting inflows.
Trustworthiness
HighThe information comes directly from coinshares' sec filing, making it a verifiable and reliable source.
Price Direction
NeutralThe withdrawal of an uncompleted etf application is a minor setback but not a significant new bearish catalyst. existing staked sol etfs continue to attract capital, and sol's price has already been in a downtrend despite these inflows. this news is unlikely to cause a dramatic shift in direction.
Time Effect
ShortAny market reaction to the withdrawal of an uncompleted etf application would likely be immediate but short-lived, given the minor nature of the event.
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Article Content:
Vince Quill 2 minutes ago CoinShares withdraws SEC filing for staked Solana ETF Analysts expected more Solana ETFs to go live in 2025, as investors chase yield-bearing opportunities through staking and network validation. Listen 0:00 News COINTELEGRAPH IN YOUR SOCIAL FEED Asset manager CoinShares withdrew its Securities and Exchange Commission (SEC) application for a staked Solana exchange-traded fund (ETF) on Friday. The structuring deal and asset purchase behind the proposed fund were never completed, according to the SEC filing , which states: “The Registration Statement sought to register shares to be issued in connection with a transaction that was ultimately not effectuated. No shares were sold, or will be sold, pursuant to the above-mentioned Registration Statement.” The first staked Solana ( SOL ) ETF, issued by REX-Osprey, debuted in the United States in June, followed by investment company Bitwise’s staked SOL ETF in October. Net inflows into Solana ETFs since Nov. 10. Source: CoinGlass Bitwise’s ETF launched with nearly $223 million in assets on its first day of trading, managing to rack up about half the value accrued in the REX-Osprey ETF, which had been trading for months at that point, according to ETF analyst Eric Balchunas. Despite the launch of the staked Solana ETFs and investor demand for these products, the price of SOL has not kept pace and has been in a downtrend since September’s high of over $250 per coin. Related: 21shares Solana ETF launches amid crash, but flows signal investor interest SOL ETFs drop to much fanfare, but SOL’s price remains depressed Solana ETFs attracted over $369 million in capital flows during November, as investors chased the yield-bearing opportunities of staked SOL investment vehicles advertising 5-7% staking rewards. The Solana ETFs bucked the trend exhibited by BTC and Ether ( ETH ) ETFs that experienced record outflows during October and November by clocking multiday inflow streaks, even as crypto prices were collapsing. Analysts previously forecasted SOL reaching as high as $400 due to capital inflows from ETFs. Still, price projections have been revised down since October, with some analysts now saying that SOL faces headwinds in reclaiming $150 . SOL’s price action remains depressed and well below all-time highs reached at the start of 2025. Source: TradingView SOL’s price hit a five-month low of approximately $120 in November, representing a 60% reduction from its all-time high of around $295 reached in January 2025. The token’s meteoric rise in January was attributed to the launch of the Official Trump memecoin on the network, fueling memecoins trading on Solana. Magazine: Solana vs Ethereum ETFs, Facebook’s influence on Bitwise: Hunter Horsley # Altcoins # Solana # Market Release # ETF Add reaction