Asset supervisor CoinShares withdrew its Securities and Alternate Fee (SEC) software for a staked Solana exchange-traded fund (ETF) on Friday.
The structuring deal and asset buy behind the proposed fund have been by no means accomplished, based on the SEC submitting, which states:
“The Registration Assertion sought to register shares to be issued in reference to a transaction that was finally not effectuated. No shares have been offered, or will likely be offered, pursuant to the above-mentioned Registration Assertion.”
The primary staked Solana (SOL) ETF, issued by REX-Osprey, debuted in the USA in June, adopted by funding firm Bitwise’s staked SOL ETF in October.
Bitwise’s ETF launched with almost $223 million in belongings on its first day of buying and selling, managing to rack up about half the worth accrued within the REX-Osprey ETF, which had been buying and selling for months at that time, based on ETF analyst Eric Balchunas.
Regardless of the launch of the staked Solana ETFs and investor demand for these merchandise, the worth of SOL has not saved tempo and has been in a downtrend since September’s excessive of over $250 per coin.
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Solana ETFs attracted over $369 million in capital flows throughout November, as traders chased the yield-bearing alternatives of staked SOL funding automobiles promoting 5-7% staking rewards.
The Solana ETFs bucked the pattern exhibited by BTC and Ether (ETH) ETFs that skilled document outflows throughout October and November by clocking multiday influx streaks, at the same time as crypto costs have been collapsing.
Analysts beforehand forecasted SOL reaching as excessive as $400 resulting from capital inflows from ETFs. Nonetheless, worth projections have been revised down since October, with some analysts now saying that SOL faces headwinds in reclaiming $150.
SOL’s worth hit a five-month low of roughly $120 in November, representing a 60% discount from its all-time excessive of round $295 reached in January 2025.
The token’s meteoric rise in January was attributed to the launch of the Official Trump memecoin on the community, fueling memecoins buying and selling on Solana.
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