Oh, dear me! CoinShares, that cheeky asset manager, has decided to tuck its staked Solana ETF application into a drawer labeled “Don’t Look Here!” The SEC filing, which promised to conjure shares from a hat, was left in the dust-literally-because the magic trick never happened. As the SEC so kindly explained:
“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.”
Well, isn’t that just charmingly clear? It’s like baking a cake and then forgetting to turn on the oven. 🎂🔥
Meanwhile, REX-Osprey and Bitwise have been busy flapping their wings. The first staked Solana (SOL) ETF, launched by REX-Osprey in June, was followed by Bitwise’s attempt in October. Bitwise’s fund started with a splash-$223 million in assets!-though it only managed to splash half as hard as REX-Osprey, who’d been splashing for months. 🦉💸
But here’s the kicker: despite all this financial fireworks, poor SOL has been slinking around like a deflated balloon. Since September’s high of $250, it’s been on a rollercoaster ride to the bottom-now hovering near $120. That’s a 60% drop! One might think the Trump memecoin, which briefly made Solana the talk of the town, would’ve given it a leg up, but nooo… it’s back to wearing invisible weight gain pants. 🐉💥
SOL ETFs Drop to Much Fanfare, but SOL’s Price Remains Depressed
In November, Solana ETFs attracted $369 million in capital flows, luring investors with promises of 5-7% staking rewards. Sounds like a treasure hunt, doesn’t it? But while BTC and ETH ETFs were hemorrhaging money, Solana’s funds were gorging like pigs at a feast. 🐖🤑
Analysts, those brave souls who dare predict the future, once thought SOL would soar to $400. Now? They’re whispering about $150 like it’s a cursed number. Poor SOL. First, there was the Trump memecoin magic, and now… well, let’s just say it’s learning the hard way that fairy tales don’t always have happy endings. 📉
In November, SOL hit a five-month low of $120. That’s like going from a king’s feast to eating crumbs off the floor. The Trump memecoin may have lit a fire under Solana, but apparently, the network forgot to build a chimney. Now it’s just smoke and mirrors. 🔥🪞
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2025-11-29 00:38