Finance
CoinShares pulls plug on select crypto ETFs ahead of US listing
Published by Global Banking and Finance Review
Posted on November 28, 2025
2 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on November 28, 2025
2 min readLast updated: January 20, 2026
CoinShares withdraws crypto ETF plans to focus on U.S. market opportunities and prepares for a Nasdaq listing through a $1.2 billion merger.
(Reuters) -CoinShares filed on Friday to withdraw its plan to launch three exchange-traded funds, as the European cryptocurrency firm plans to focus on higher-margin opportunities ahead of its U.S. listing.
CoinShares has filed with the Securities and Exchange Commission to withdraw its registration statements for XRP ETF, solana staking ETF, and litecoin ETF.
CEO Jean-Marie Mognetti said that as the U.S. market consolidates around large players in single-asset crypto ETPs, opportunities for differentiation and sustainable margins are limited, necessitating a "different playbook".
Separately, the company is also winding down its CoinShares bitcoin futures leveraged ETF.
The company said it is aiming to introduce new products to the U.S. market over the next 12 to 18 months, including crypto equity exposure vehicles, thematic baskets and actively managed strategies combining crypto and other assets.
In September, CoinShares agreed to list on the Nasdaq through a $1.2 billion merger with special purpose acquisition company Vine Hill Capital Investment Corp.
Focused on crypto since 2013, CoinShares had around $10 billion in assets under management as of September, with a presence in France, Sweden, the UK, and the U.S.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Vijay Kishore)
An exchange-traded fund (ETF) is a type of investment fund that is traded on stock exchanges, similar to stocks. ETFs hold assets such as stocks, commodities, or bonds and generally operate with an arbitrage mechanism designed to keep trading close to its net asset value.
Cryptocurrency is a digital or virtual currency that uses cryptography for security. It operates on a technology called blockchain, which is a decentralized ledger that records all transactions across a network of computers.
A special purpose acquisition company (SPAC) is a company created solely to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company. SPACs are often referred to as 'blank check companies.'
A leveraged ETF is a type of exchange-traded fund that uses financial derivatives and debt to amplify the returns of an underlying index. These funds aim to achieve a return that is a multiple of the performance of the index they track.
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