CoinShares Withdraws Solana ETF Application from SEC

According to Odaily, asset management firm CoinShares has officially withdrawn its application for a Solana staking ETF from the U.S. Securities and Exchange Commission (SEC) as of Friday. The filing indicated that the registration statement was initially intended to register shares related to a transaction that ultimately did not take effect, and no shares were sold under this statement, nor will they be sold in the future. Previously, staking SOL ETFs launched by REX-Osprey and Bitwise were listed in the U.S. in June and October of this year, respectively. Despite these related ETF products attracting over $369 million in inflows in November, the price of SOL has recently been underperforming, reaching a five-month low of approximately $120.