Coinshares Withdraws Its Sec Filing For Staked Solana Etf 2025

Analysts expected more Solana ETFs to go live in 2025, as investors chase yield-bearing opportunities through staking and network validation.

Asset manager CoinShares withdrew its Securities and Exchange Commission (SEC) application for a staked Solana exchange-traded fund (ETF) on Friday.

The structuring deal and asset purchase behind the proposed fund were never completed, according to the SEC filing, which states:

The first staked Solana (SOL) ETF, issued by REX-Osprey, debuted in the United States in June, followed by investment company Bitwise’s staked SOL ETF in October.

Bitwise’s ETF launched with nearly $223 million in assets on its first day of trading, managing to rack up about half the value accrued in the REX-Osprey ETF, which had been trading for months at that point, according to ETF analyst Eric Balchunas.

Despite the launch of staked Solana ETFs and investor demand for these products, the price of SOL has not kept pace and has been in a downtrend since its high of over $250 per coin in September.

Related: 21shares Solana ETF launches amid crash, but flows signal investor interest

Solana ETFs attracted over $369 million in capital flows during November, as investors chased the yield-bearing opportunities of staked SOL investment vehicles advertising 5%-7% staking rewards.

The Solana ETFs bucked the trend exhibited by BTC and Ether (ETH) ETFs that experienced record outflows during October and November by clocking multiday inflow streaks, even as crypto prices were collapsing.

Analysts previously forecast SOL reaching as high as $400 due to capital inflows from ETFs. Still, price projections have been revised down since October, with some analysts now saying that SOL faces headwinds in reclaiming $150.

Source: CoinTelegraph