CoinShares Withdraws Staked Solana ETF Proposal: What’s Next for Solana Price?

Solana price remains steady above the $130 level, despite a slight 2% decrease in the last 24 hours. Over the past week, the cryptocurrency has gained 8%, signaling a potential recovery.  

CoinShares has dropped its applications to trade spot ETFs that concentrate on Solana, XRP, and Litecoin, which has cast an envelop of uncertainty on their future expectations.

Market interest is high with a 24-hour trading volume of $4.06 billion, an increase of 14.6. Nonetheless, the overall crypto market has been decreasing by 1.27% in the last day, which follows a 30-day drop of 18%.

CoinShares Cancels U.S. Crypto ETFs for Solana

CoinShares, a $10b asset manager, has canceled its three U.S. crypto ETF launches. These are the Solana Staking ETF, XRP, and Litecoin ETFs.

The ruling came on November 28, 2025, to the chagrin of many traders. This year has seen investor interest in XRP and Solana funds increase.

CoinShares asked the SEC to retract its registration statements of these funds. The company mentioned difficulties in the fund establishment. 

This has come out of the blue and has left traders who are keen on such crypto products in a position of questioning.

Corporate Treasuries Boost Solana Holdings Significantly

Corporate treasuries have raised their Solana (SOL) positions, considerably exceeding 16 million tokens. This accumulation burst started at the end of summer in 2025, and the accumulation would increase significantly in November.

The trend reflects the constant increase in investments, indicating the increasing trust in the future of the market of Solana market.

Data shows that corporate treasuries have been steadily raising their positions to new highs every month. This increase is seen in April to November 2025 and indicates a good enthusiasm towards the asset.

Will Solana Price Surge to $150 or Drop to $120?

The SOL price traded at $137, showing a slight increase of 0.04% in the last 24 hours. The chart indicates a period of consolidation for Solana, with the price hovering between $130 and $137. 

The Relative Strength Index (RSI) is at 47, which indicates that the market is not under any strong selling or buying pressure. 

The MACD indicator indicates a neutral signal, where the MACD line is slightly below the signal line. Additionally, the histogram is swinging between the positive and negative territory.

The future Solana outlook suggests that the price could face significant resistance around the $150 mark. An upswing beyond $137 can be a breakout to further profits, and failure to maintain beyond this range can result in a test of lower levels of support.

The immediate support remains at $130, and traders should monitor this level for any potential signs of breakdown.