Asset management firm CoinShares has withdrawn its application with the U.S. Securities and Exchange Commission (SEC) to launch a staked Solana exchange-traded fund (ETF). This action follows the discontinuation of the underlying structuring deal and asset purchase, as SEC filings reveal no shares were issued or will be issued under this registration. CoinShares’ withdrawal comes after REX-Osprey and Bitwise launched their own staked Solana ETFs, capturing investor attention and generating significant capital. 5-7% yields offered through staking rewards are driving investor interest in these products, with over $369 million flowing into Solana ETFs by November. However, Solana’s price has remained subdued, struggling to match the enthusiasm around these yield-generating vehicles. Experts now predict SOL may struggle to reach $150, a stark contrast to initial projections reaching as high as $400 driven by ETF inflows. With Solana’s price falling to approximately $120 in November – representing a 60% decline from its all-time high of around $295 reached earlier this year – the market underscores a disconnect between capital inflows into ETFs and actual token prices. The crypto market remains volatile, making it difficult for Solana to regain its early-year highs amid ongoing bearish pressures.