CoinShares has withdrawn its application for a Solana staking ETF in the United States, concluding a lengthy approval process. The firm submitted a formal request to retract its S-1 filing, despite growing interest in Solana-based investment products. CoinShares continues to offer a Solana staking ETP on the Frankfurt exchange and manages assets exceeding $10 billion. This move may indicate a strategic shift in response to changing market and regulatory landscapes.