Key Insights:
- CoinShares has canceled its U.S. ETFs for Solana, XRP, and Litecoin, raising questions about the future of crypto ETFs.
- Solana’s price holds steady at $137 despite the ETF withdrawal, with strong market interest shown in recent trading volumes.
- Corporate treasuries have significantly increased Solana holdings, reflecting growing institutional confidence in the cryptocurrency’s long-term potential.
Solana (SOL) has continued to show resilience, holding steady above the $130 mark, despite a slight 2% decrease over the past 24 hours. Despite a market-wide downturn, Solana has gained 8% over the last week, signaling a possible recovery in the coming days. With high market interest reflected in its $4.06 billion 24-hour trading volume, Solana has maintained its stability amidst recent market turbulence.
CoinShares, a prominent $10 billion asset manager, has taken the unexpected step of withdrawing its applications for U.S.-based crypto exchange-traded funds (ETFs) focused on Solana, XRP, and Litecoin. This decision came on November 28, 2025, following difficulties with fund establishment, as revealed by the company. This unexpected move has raised questions among traders who were anticipating these funds to launch soon.
The ETFs that CoinShares had planned included the Solana Staking ETF, the XRP ETF, and the Litecoin ETF. These funds were expected to cater to growing investor interest in digital assets like Solana and XRP. CoinShares requested the U.S. Securities and Exchange Commission (SEC) to retract its registration statements, marking the end of the company’s ETF aspirations for these particular cryptocurrencies.
Corporate Treasuries Accumulate Solana Despite ETF Setback
While CoinShares’ withdrawal from the ETF space has created uncertainty, Solana’s market outlook remains positive due to growing institutional interest. Corporate treasuries have been steadily increasing their holdings in Solana, surpassing 16 million tokens as of late 2025. This accumulation has been particularly noticeable since the end of summer, and November saw a sharp increase in corporate interest.
The data reveals a continuous rise in institutional Solana investments, with companies boosting their positions month after month from April to November 2025. This trend suggests a growing confidence in Solana’s future potential, despite the broader market’s challenges and the recent news surrounding the ETFs.
Solana Price Outlook Amid Market Volatility
Solana’s price is currently trading at $137, showing a slight increase of 0.04% over the past 24 hours. The price is consolidating within the $130 to $137 range, indicating market indecision. Indicators such as the Relative Strength Index (RSI) and the MACD are showing neutral signals, with no clear direction towards either strong buying or selling pressure.
The $150 mark remains a key resistance level, and a break above this could lead to further price appreciation. Conversely, failure to sustain levels above $137 could result in a retest of the $130 support. Traders are advised to closely monitor these levels in the coming days to gauge the market’s direction.
