Yes. To let subscribers choose which Lists they want to unsubscribe from, go to Account Settings > General, and enable "Allow Subscribers to Opt-Out from Specific Lists" under Miscellaneous.
Once enabled, any subscriber can text the Keyword "MANAGE" to your Shortcode. This will trigger an automated message that includes a link, which will list all Lists they are subscribed to. They can check/uncheck which Lists to stay subscribed to.
Learn how opt-outs are handled