[{"type":"paragraph","children":[{"text":"CoinShares, Europe's largest digital asset manager with roughly $10 billion in assets under management, has formally withdrawn its applications for three US spot cryptocurrency ETFs, removing itself from an increasingly crowded market dominated by traditional finance heavyweights."}]},{"type":"bulleted-list","children":[{"type":"list-item","children":[{"text":"The firm filed Form RW requests with the Securities and Exchange Commission on Nov. 28 to withdraw registration statements for its proposed "},{"type":"link","url":"https://www.sec.gov/Archives/edgar/data/2048583/000199937125018938/coinshares-rw_112825.htm","children":[{"text":"XRP ETF"}]},{"text":", "},{"type":"link","url":"https://www.sec.gov/Archives/edgar/data/2073298/000199937125018937/solana-rw_112625.htm","children":[{"text":"Solana Staking ETF"}]},{"text":", and "},{"type":"link","url":"https://www.sec.gov/Archives/edgar/data/2048623/000199937125018936/coinshares-rw_112625.htm","children":[{"text":"Litecoin ETF"}]},{"text":", according to regulatory filings. Senior financial officer Charles Butler signed each withdrawal letter, which confirmed that no securities had been sold and no transactions had occurred under the earlier S-1 registrations. The firm is also winding down its CoinShares Bitcoin Futures Leveraged ETF. "}]},{"type":"list-item","children":[{"text":"The decision comes at a critical moment for CoinShares, which in September "},{"type":"link","url":"https://www.theblock.co/post/369821/coinshares-set-to-go-public-in-us-via-1-2-billion-spac-merger-with-nasdaq-listed-vine-hill","children":[{"text":"announced a $1.2 billion SPAC merger"}]},{"text":" with Nasdaq-listed Vine Hill Capital that would see the company go public in the United States. That deal, expected to close by year-end, positions CoinShares among the top four digital asset managers globally by crypto ETF assets under management, alongside BlackRock, Fidelity, and Grayscale."}]},{"type":"list-item","children":[{"text":"CoinShares CEO Jean-Marie Mognetti "},{"type":"link","url":"https://investor.coinshares.com/pressreleases/coinshares-accelerates-product-strategy-for-u-s-market","children":[{"text":"said in a statement"}]},{"text":" that opportunities for differentiation and sustainable margins in the single-asset crypto ETF space are limited given the dominance of giants like the aforementioned BlackRock, Fidelity, and Grayscale, which manage most of the market's leading funds. CoinShares did not immediately respond to a request for further comment from The Block. "}]},{"type":"list-item","children":[{"text":"\"Over the next 12-18 months, we aim to bring additional innovative products to the U.S. market across three core categories: crypto equity exposure vehicles that capture the digital asset ecosystem beyond tokens themselves; thematic baskets that provide targeted exposure to specific blockchain innovation trends; and actively managed strategies combining crypto and other assets, leveraging CoinShares quantitative expertise,\" Mognetti wrote. \"To sharpen this focus, we are streamlining our U.S. product lineup by winding down our CoinShares Bitcoin Futures Leveraged (ticker:BTFX) product and redirecting the resources previously allocated to our planned single-asset ETF launches toward higher-margin opportunities.\""}]},{"type":"list-item","children":[{"text":"CoinShares' original Solana Staking ETF filing arrived in June, with amendments submitted through September. The XRP ETF saw updates in August and October, while the Litecoin ETF application dated back to January. The SEC had acknowledged the firm's spot XRP and Litecoin ETF filings in February, as "},{"type":"link","url":"https://www.theblock.co/post/342057/sec-acknowledges-spot-xrp-and-litecoin-etf-filings-from-coinshares","children":[{"text":"The Block previously reported"}]},{"text":"."}]}]},{"type":"paragraph","children":[{"text":"The strategic shift echoes comments from Franklin Templeton's Head of Digital Assets Roger Bayston, who "},{"type":"link","url":"https://www.theblock.co/post/380622/post-xrp-etf-launch-franklin-templeton-sees-diversified-crypto-portfolios-as-the-next-big-thing","children":[{"text":"told The Block last week"}]},{"text":" that diversified crypto portfolios represent \"the next big thing\" following this wave of single-asset funds."}]},{"type":"paragraph","children":[{"text":"\n"},{"type":"topic","character":"CoinShares","children":[{"text":""}]},{"text":" "},{"type":"topic","character":"XRP","children":[{"text":""}]},{"text":" "},{"type":"topic","character":"Solana","children":[{"text":""}]},{"text":" "},{"type":"topic","character":"Litecoin","children":[{"text":""}]},{"text":" "},{"type":"topic","character":"Nasdaq","children":[{"text":""}]},{"text":" "},{"type":"coin","currencyId":128,"currency":"ju","symbolId":73,"symbol":"ju_usdt","logo":"https://storage.webstatic.cc/1/currency/3908d2d8-94c4-4db9-9fc5-9a5bdaae5860-1758872417826.png","fullName":"JU","character":"JU/USDT","children":[{"text":""}]},{"text":" "},{"type":"coin","currencyId":11,"currency":"sol","symbolId":10,"symbol":"sol_usdt","logo":"https://web.jucoin.online/cdn/coin/logo/sol.png","fullName":"Solana","character":"SOL/USDT","children":[{"text":""}]},{"text":" "},{"type":"coin","currencyId":10,"currency":"xrp","symbolId":9,"symbol":"xrp_usdt","logo":"https://web.jucoin.online/cdn/coin/logo/xrp.png","fullName":"XRP","character":"XRP/USDT","children":[{"text":""}]},{"text":" "}]}]

[{"type":"bulleted-list","children":[{"type":"list-item","children":[{"text":"Nordea has announced plans to launch a Bitcoin ETP in December. The Finnish investment bank is partnering with CoinShares, which will design the new product."}]},{"type":"list-item","children":[{"text":"Compared to forecasts for 2024, mainstream crypto adoption in the region has been lackluster recently, but markets are open to new ETPs. If successful, this could encourage Nordea to launch similar products."}]}]},{"type":"heading-two","children":[{"text":"Nordea's New Bitcoin ETP"}]},{"type":"heading-two","children":[{"text":""}]},{"type":"bulleted-list","children":[{"type":"list-item","children":[{"text":"Nordea, the largest Finnish investment bank in the Nordic region, has previously held a certain skepticism towards crypto and Web3."}]},{"type":"list-item","children":[{"text":"However, the "},{"type":"link","url":"https://vn.beincrypto.com/institutional-wave-bitcoin-etf-record-quarter-outlook/","children":[{"text":"recent"}]},{"text":" "},{"type":"link","url":"https://beincrypto.com/institutional-wave-bitcoin-etf-record-quarter-outlook/","children":[{"text":"influx of institutional Capital into"}]},{"text":" the sector has been too great to ignore, and today the bank "},{"type":"link","url":"https://www.nordea.com/en/news/nordea-to-offer-customers-access-to-an-exchange-traded-product-tracking-bitcoin","children":[{"text":"announced"}]},{"text":" it will offer a Bitcoin ETP in December."}]}]},{"type":"block-quote","children":[{"type":"paragraph","children":[{"text":"“Nordea has been closely monitoring trends in the crypto space, but has maintained a cautious approach. As the market matures, Nordea has decided to allow its clients to trade an externally issued crypto-linked product on its platforms. The new product is issued by CoinShares… and will be available… in December 2025,” the bank said."}]}]},{"type":"bulleted-list","children":[{"type":"list-item","children":[{"text":"The firm said it wasn’t just macro demand that was behind the decision to approve a Bitcoin ETP; it also noted that "},{"type":"link","url":"https://beincrypto.com/learn/mica-guide/","children":[{"text":"new regulatory frameworks"}]},{"text":" have made risks more manageable."}]},{"type":"list-item","children":[{"text":"Despite the EU MiCA regulation's rocky start, "},{"type":"link","url":"https://vn.beincrypto.com/mica-eu-crypto-firms-tether-binance/","children":[{"text":"more and more companies"}]},{"text":" are applying for and receiving the appropriate licenses without problems."}]}]},{"type":"heading-two","children":[{"text":""}]},{"type":"heading-two","children":[{"text":"A new hub for TradFi-Web3 integration?"}]},{"type":"bulleted-list","children":[{"type":"list-item","children":[{"text":"So what could a new Bitcoin ETP bring in 2026, especially "},{"type":"link","url":"https://vn.beincrypto.com/bitcoin-ethereum-spot-etfs-see-significant-outflows/","children":[{"text":"given today’s Capital"}]},{"text":" ? In the short term, it could signal an exciting trend for the region. In particular, about a year and a half ago, "},{"type":"link","url":"https://vn.beincrypto.com/beincrypto-ra-mat-4-ten-mien-moi-bac-au/","children":[{"text":"industry experts believed that"}]},{"text":" Northern Europe/Scandinavia was on the cusp of a new wave of crypto adoption."}]},{"type":"list-item","children":[{"text":"Adoption figures for 2025 "},{"type":"link","url":"https://vn.beincrypto.com/us-crypto-adoption-skyrocket-report-trm/","children":[{"text":"have been released;"}]},{"text":" however, no country in the region tops the rankings. However, these markets continue to innovate in other ways."}]},{"type":"list-item","children":[{"text":"Two months ago, Swedish stock exchanges began listing a range of Bitcoin and altcoin ETPs, including products based on Pi Network."}]},{"type":"list-item","children":[{"text":"In other words, if this market fails to gain mass adoption, it could still be a useful hub for Web3-based investments. Nordea has chosen Bitcoin for its first crypto ETP, but if successful, it could expand to other cryptocurrencies."}]},{"type":"list-item","children":[{"text":"For its part, CoinShares has yet to publicly comment on the deal, and we don't yet know the exact composition of the products."}]},{"type":"list-item","children":[{"text":"However, the company "},{"type":"link","url":"https://vn.beincrypto.com/coinshares-q2-32-4-million-us-listing/","children":[{"text":"is having a good year"}]},{"text":" , and "},{"type":"link","url":"https://x.com/mrnguyen007/status/1983906047392936215#m","children":[{"text":"has filed"}]},{"text":" for new altcoin ETFs in multiple global markets. If this trend continues, CoinShares may be open to further cooperation."}]}]},{"type":"paragraph","children":[{"text":"\n"},{"type":"topic","character":"CoinShares","children":[{"text":""}]},{"text":" "},{"type":"topic","character":"Jucom","children":[{"text":""}]},{"text":" "},{"type":"topic","character":"Bitcoin","children":[{"text":""}]},{"text":" "},{"type":"topic","character":"cryptocurrency","children":[{"text":""}]},{"text":" "},{"type":"topic","character":"blockchain","children":[{"text":""}]},{"text":" \n"}]}]