On November 28, 2025, CoinShares filed a Form RW with the U.S. Securities and Exchange Commission to withdraw its registration statement for a proposed XRP ETF. The Form RW submitted to the U.S. Securities and Exchange Commission confirms that the firm will not proceed with the product and that no shares were issued under the earlier S-1 filings. While some observers interpreted the move as a setback for XRP-related investment products, crypto analyst Ripple Bull Winkle offered a different interpretation focused on broader industry dynamics rather than the withdrawal itself. People are freaking out over CoinShares withdrawing their $XRP ETF filing… but they’re missing the entire plot. This isn’t bearish at ALL. Small issuers step aside when bigger players are about to dominate a market — and XRP’s ETF lane is filling with heavyweights like… pic.twitter.com/bVUXizxhDn — Ripple Bull Winkle | Crypto Researcher (@RipBullWinkle) November 28, 2025 Analyst Perspective and Interpretation According to Ripple Bull Winkle, the withdrawal should not be considered bearish for XRP in any respect. He argued that smaller issuers typically step aside when the market is on the verge of being led by larger, well-capitalized asset managers. His view is that CoinShares’ exit reflects a shift in competitive positioning rather than any negative sentiment toward XRP. He pointed out that major institutions such as 21Shares, WisdomTree, Fidelity, and BlackRock are actively preparing their own XRP ETF offerings, indicating that the product category is transitioning toward firms with the scale and infrastructure to meet institutional demand. The analyst emphasized that this environment tends to push out lower-capacity participants while reinforcing the presence of firms capable of operating large, liquid exchange-traded products. In his assessment, CoinShares’ withdrawal aligns with the pattern observed in other maturing ETF markets where consolidation begins before major issuers launch their products. Further Market Context The language in CoinShares’ Form RW reinforces that the withdrawal is procedural and linked to a transaction that was not ultimately executed. This provides clarity on the administrative side, while the competitive context outlined by Ripple Bull Winkle adds perspective on what the move may signal for the XRP ETF landscape . If larger issuers are preparing to take leadership roles, the market may see fewer entrants, more concentration among firms with established ETF operations, stronger distribution channels, and deeper liquidity support. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Such consolidation typically influences product pricing, liquidity formation, and the speed at which new ETFs reach sustained volume. In this case, the analyst suggests that the withdrawal represents a realignment in favor of institutions that have the capacity to drive long-term growth in XRP-based investment products. CoinShares’ withdrawal is formally documented and straightforward from a regulatory standpoint, but its implications extend beyond paperwork. Ripple Bull Winkle frames the decision as a normal part of the competitive cycle, with smaller players stepping back as larger institutions prepare to enter the market. If his commentary proves correct, the XRP ETF landscape is shifting toward a phase led by major asset managers capable of supporting significant capital flows. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post XRP’s Real ETF Era: The Stage Is Getting Cleared appeared first on Times Tabloid .
