Citing the overwhelming market dominance of traditional finance leaders, CoinShares has withdrawn from the US spot ETF arena for XRP, Solana, and Litecoin.
CEO Jean-Marie Mognetti stated opportunities for sustainable margins in the single-asset crypto ETF space are limited against giants like BlackRock and Fidelity.
The strategic withdrawal aligns with the firm’s focus on closing its Nasdaq listing via a SPAC merger and winding down specialized products, including a Bitcoin futures leveraged ETF, to solidify its position among the world’s top four digital asset managers by ETF AUM.
