[CoinShares Withdraws Applications for XRP, Solana (Including Staking), and Litecoin Spot ETFs, Shifts Focus to High-Margin Products] According to The Block, European digital asset management company CoinShares has submitted Form RW to the SEC, withdrawing its registration for XRP, Solana Staking, and Litecoin spot ETFs, with no securities sales or transactions occurring. Additionally, the company will liquidate its leveraged Bitcoin futures ETF (BTFX). CoinShares is advancing a $1.2 billion SPAC merger with Nasdaq-listed Vine Hill Capital, aiming for completion within the year. CEO Jean-Marie Mognetti stated that the single-asset crypto ETF market is dominated by BlackRock, Fidelity, and Grayscale, offering limited differentiation and sustainable profits. Over the next 12–18 months, CoinShares will focus on three types of products: crypto equity vehicles, thematic baskets, and actively managed strategies.