{"id":18459,"date":"2025-11-29T04:28:42","date_gmt":"2025-11-29T03:28:42","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=18459"},"modified":"2025-11-29T04:28:42","modified_gmt":"2025-11-29T03:28:42","slug":"coinshares-drops-its-solana-etf-plan","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/11\/29\/coinshares-drops-its-solana-etf-plan\/","title":{"rendered":"CoinShares Drops Its Solana ETF Plan"},"content":{"rendered":"

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Welcome to today’s crypto buzz! Anthony Sassano shares that Ethereum’s gas limit shooting up to 180 million is just the beginning for next year. On a different note, CoinShares has pulled its application with the Securities and Exchange Commission for a staked Solana fund. Meanwhile, KuCoin is making strides in Europe by securing a MiCA license in Austria.<\/p>\n

Ethereum’s Gas Limit: A New Beginning According to Sassano<\/h2>\n

Ethereum guru Anthony Sassano believes that reaching a gas limit of 180 million for Ethereum is just the starting point for next year. In his words, this is a \u201cfloor,\u201d not a peak. He shared<\/a> his exciting insights during a recent Bankless podcast, right after the Ethereum mainnet block gas limit was raised from 45 million to 60 million.<\/p>\n

\u201cThe general consensus among core developers and researchers is to aim for at least a 3X increase in the gas limit over the next couple of years,\u201d Sassano shared confidently.<\/p>\n

He also mentioned that some developers are even dreaming big with discussions of a potential fivefold increase in the gas limit within just a year!<\/p>\n

CoinShares Hits Pause on Staked Solana ETF Plans<\/h2>\n

In a surprising move, asset manager CoinShares has decided to withdraw its application for a staked Solana exchange-traded fund (ETF) with the SEC.<\/p>\n

The SEC filing revealed that the structuring deal and asset purchase needed to make the fund a reality were never finalized. It stated:<\/p>\n

\u201cThe Registration Statement sought to register shares linked to a transaction that was ultimately not carried out. No shares were sold, and none will be sold under the above-mentioned Registration Statement.\u201d<\/p><\/blockquote>\n

The first staked Solana (SOL<\/a>) ETF made its debut in the U.S. in June, followed by Bitwise\u2019s staked SOL ETF in October.<\/p>\n

Bitwise’s ETF launched with a whopping $223 million in assets<\/a> on its first day\u2014amazing for a fund that had already been trading for months!<\/p>\n

Despite the excitement around staked Solana ETFs and strong investor interest, the price of SOL hasn\u2019t followed suit<\/a> and has been struggling since peaking over $250 in September.<\/p>\n

Net inflows into Solana ETFs since Nov. 10. Source: <\/em>CoinGlass<\/em><\/a><\/figcaption><\/figure>\n

KuCoin Expands its Horizons with MiCA License in Austria<\/h2>\n

In exciting news, major cryptocurrency exchange KuCoin is among the latest players to snag a license under the EU\u2019s MiCA framework!<\/p>\n

KuCoin\u2019s European division, KuCoin EU, has been granted a MiCA license<\/a> from Austria’s Financial Market Authority, confirming the news via a statement shared with Cointelegraph.<\/p>\n

This license lets KuCoin EU provide crypto asset services across 29 nations in the European Economic Area (EEA), though Malta is left out of the mix, according to the exchange\u2019s representatives.<\/p>\n

\u201cObtaining the MiCA license with our local entity in Austria is a significant milestone in our long-term strategy for trust and compliance,\u201d KuCoin CEO BC Wong stated, emphasizing the regulatory framework as \u201cone of the highest standards worldwide.\u201d<\/p>\n

This MiCA approval comes as KuCoin follows up on its application filed back in early 2025, making headway after other crypto asset providers like Austria-based Bitpanda secured MiCA authorization earlier.<\/p>\n

\u201cWe chose Austria for its swift implementation of MiCA laws, its stable regulatory environment, and its vast talent pool,\u201d the exchange shared<\/a> back in February.<\/p>\n

KuCoin is among six CASPs that secured MiCA licenses from Austria\u2019s FMA. Source: <\/em>FMA<\/em><\/a><\/figcaption><\/figure>\n

Alongside KuCoin, Austria\u2019s FMA has granted MiCA licenses to five more CASPs: Amina Bank, Bitpanda, Bybit, Cryptonow, and FIOR Digital.<\/p>\n