CoinShares Delays ETF Filings, Shifts Focus Ahead of Nasdaq Listing

CoinShares has withdrawn its filings for ETFs tracking XRP, Solana, and Litecoin, citing intense competition in the U.S. ETF market ahead of its planned September 2025 listing on the Nasdaq through a SPAC vehicle. CEO Jean-Marie Mognetti explained that CoinShare’s strategic shift is motivated by the crowded U.S. landscape dominated by established financial firms like Blackrock and Fidelity, seeking to refocus its business strategy following a $1.2 billion SPAC valuation.