Asset manager CoinShares recently retracted its application for a staked Solana ETF with the SEC, indicating that the necessary arrangements to finalize the fund and associated asset purchase were never reached. The SEC detailed in its filing:

“The Registration Statement sought to register shares to be issued in connection with a transaction that was ultimately not effectuated. No shares were sold, or will be sold, pursuant to the above-mentioned Registration Statement.”

Recent months have seen the introduction of other staked Solana ETFs, such as the REX-Osprey ETF, which debuted in June, and Bitwise’s staked Solana ETF that launched in October, attracting notable capital inflows. Despite the launch, Solana’s price has been declining, dropping significantly from its previous highs.

The staked Solana ETFs have managed to draw considerable interest, securing over $369 million in investments in November, offering yields of approximately 5-7%. Although the Solana ETFs experienced significant capital flow, the token’s value continues to remain low, suggesting market hesitancy in facing upwards pressures. Analysts had initially predicted bullish trends for SOL pricing but have since adjusted forecasts downward amid prevailing market conditions.