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CoinShares has withdrawn its software for a staked Solana ETF (exchange-traded fund) with the US Securities and Alternate Fee (SEC).
The withdrawal comes at a time of accelerating competitors within the crypto ETF phase and with regulatory necessities evolving.
“The Registration Assertion sought to register shares to be issued in reference to a transaction that was in the end not effectuated,” a Nov. 28 submitting stated. ”No shares had been bought, or will likely be bought, pursuant to the above-mentioned Registration Assertion.”
Solana ETFs See Robust Begin As Buyers Chase Excessive Yields
The primary staked Solana ETF, issued by REX-Osprey, debuted within the US in June. That was adopted by the launch of the same product from Bitwise in October.
Bitwise’s fund launched with practically $223 million in property on its first day of buying and selling, and picked up roughly 50% of the worth that the REX-Osprey ETF had racked up over a few months, based on Bloomberg ETF analyst Eric Balchunas.
$BSOL is starting life with $220m in property. Spectacular, already half the dimensions of $SSK. Stunned they did not maintain off tho and have it are available in on Day One to get quantity and flows larger. Excellent news is now we’ll have solely natural, simpler to measure true demand pic.twitter.com/bHXQuCRw1Z
— Eric Balchunas (@EricBalchunas) October 28, 2025
A number of different staked Solana ETFs have since entered the US market.
Collectively, the SOL funding merchandise have seen greater than $369 million in capital flows in November. Solana ETFs additionally managed to buck the pattern seen with spot Bitcoin and Ethereum ETFs that skilled document outflows in October and November amid the current market stoop.
The robust efficiency is underpinned partly by the 5-7% staking rewards on supply.
US SOL ETF flows (Supply: Farside Buyers)
Information from Farside Buyers reveals that since Nov. 10, the funds have solely seen internet each day outflows on Nov. 26, when $8.2 million left the funding merchandise.
The funds resumed their inflows streak within the newest buying and selling session, with buyers injecting $5.3 million into the ETFs. On the day, Grayscale’s GSOL led the cost with $4.3 million inflows. Constancy’s FSOL was the one different SOL ETF to see inflows on the day, with $2.4 million coming into its reserves.
21Shares’ TSOL was the one fund to document outflows yesterday, with $1.4 million leaving its reserves. This fund was additionally accountable for breaking the funds’ internet each day inflows streak the day earlier than, after buyers withdrew $34.4 million from the fund on the day.
SOL Worth Trades In A Downtrend
Regardless of the continued inflows for SOL ETFs, the altcoin that the funds monitor has seen its worth slide in current weeks. Over the previous month, SOL’s worth has plummeted over 28%, coinciding with the broader crypto market pullback.
SOL each day chart (Supply: GeckoTerminal)
Information from GeckoTerminal reveals that SOL trades in a medium-term downtrend. Technical indicators comparable to short-term Exponential Transferring Averages (EMAs), the Transferring Common Convergence Divergence (MACD), and the Relative Energy Index (RSI) present that bears nonetheless have a decent grip on the altcoin’s worth.
Nonetheless, SOL is trying to interrupt above the higher boundary of the descending worth channel. A breach of this barrier might result in a bullish shift in momentum and energy for SOL.
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