The Block reported on the 30th (local time) that Yin has officially withdrawn its application for registering a physical ETF. According to the report, the company will also gradually cease operation of its Bitcoin futures leveraged ETF.
The plan is seen as a strategic adjustment in preparation for a $1.2 billion SPAC merger to list on the Nasdaq. CoinShares is Europe's largest digital asset manager, with assets under management of approximately $10 billion.
The asset management company filed Form RW with the SEC on November 28, withdrawing all of its applications for the XRP ETF, Solana Staking ETF, and Litecoin ETF.
Upon receiving the S-1, Chief Financial Officer Charles Butler signed the relevant documents, stating that no securities sales or transactions have occurred under the existing S-1 registration.
This decision follows the announcement in September that Nasdaq-listed company Vinehill Capital will
The move comes ahead of a $1.2 billion SPAC merger with CoinDesk Capital, which is expected to close this year.
Shares is one of the top four cryptocurrency ETFs globally, alongside BlackRock, Fidelity, and Grayscale.
Jean-Marie Monetti, CEO of the company, said that the market dominance of large traditional financial companies is strong in the single-asset cash ETF market, making it difficult to differentiate and ensure sustainable profitability.
Monetti said the company plans to launch three innovative products into the US market over the next 12 to 18 months, including a token-based cryptocurrency.
"Crypto Equity Exposure Products" encompassing the digital asset ecosystem beyond the 100,0 ...
The company plans to discontinue its single-asset ETF and streamline its leveraged Bitcoin futures ETF, BTFX.
The company explained that it will make management decisions and reallocate resources to more profitable areas.
2025/12/01 12:35 KST
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