CoinShares withdraws SEC filing for staked Solana ETF

The launch of Grayscale's spot Dogecoin ETF on November 24, 2025, was met with disappointing trading volumes, reaching approximately $1.4 million on its first day, significantly lower than analysts' expectations. This muted response reflects a lack of enthusiasm in the market despite the anticipation surrounding the first-ever Dogecoin ETF.

XRP's price is currently at a critical juncture, trading around $2.20, just above a significant Fibonacci support level. Analyst Egrag Crypto has outlined three potential outcomes for XRP's future, emphasizing the importance of closing above $2.60 to maintain bullish momentum. The monthly candle is nearing closure, adding urgency to the analysis.

Nasdaq's head of digital assets strategy, Matt Savarese, announced the exchange's readiness to address any inquiries from the SEC regarding its proposal for tokenized stocks, emphasizing a commitment to expedite the process.

Solana's price momentum is compressing as it approaches two critical decision points, indicating a significant period ahead for the cryptocurrency. Analysts suggest that SOL has completed its upward wave, signaling a potential deeper corrective phase, with targets set between $49.26 and $32.03 based on Fibonacci retracement levels.

Hester Peirce, a commissioner at the U.S. Securities and Exchange Commission (SEC), emphasized that self-custody of assets and financial privacy are fundamental rights aligned with the principles of freedom upon which the U.S. was founded. This statement underscores the importance of individual control over digital assets in the evolving cryptocurrency landscape.

Arthur Hayes, co-founder of BitMEX, has stated that most Layer 1 (L1) cryptocurrencies outside of Ethereum and Solana are likely to decline significantly, potentially heading towards zero. This assertion highlights concerns about the sustainability and viability of numerous blockchain projects in the current market landscape.

Solana spot ETFs saw a recovery with $5.37 million in net inflows on November 28, ending a 21-day losing streak, despite the SOL price dropping below $140 to $137 amid broader market weakness. Grayscale's GSOL led the inflows, indicating renewed interest in Solana-based investments.

CoinShares has decided to withdraw its applications for multiple cryptocurrency exchange-traded funds (ETFs) with the United States Securities and Exchange Commission (SEC), including those for Solana and XRP. This strategic shift reflects the firm's reassessment of the saturated US crypto ETF market amid ongoing regulatory challenges.