Exchange-traded fund (ETF) issuer WisdomTree has officially withdrawn its XRP application.
WisdomTree initially filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) back in December.
Market saturation
The issuer’s decision to pull the plug on its XRP ETF has puzzled the community, with many of its members even alleging that the filing is fake (even though it is definitely real).
Even though the issuer has not specified the exact reason behind the withdrawal, it likely decided to nip this product in the bud due to being too late to the party.
It is worth noting that competitors like Bitwise, Canary Capital, and 21Shares launched products that have already captured significant market share.
The first batch of XRP ETFs has already attracted approximately $1.37 billion in cumulative inflows as of early January 2026.
WindomTree was successful with its Bitcoin and Ethereum products, but its XRP bid became a casualty of timing in a "winner-takes-most" market.
Hence, the withdrawal can be viewed as a concession to market saturation.
XRP ETF milestones
Canary Capital (XRPC) became the first U.S. spot XRP ETF to launch on Nasdaq. Bitwise launched its product a week later, and some other issuers followed suit.
These funds saw immediate traction, with Canary Capital recording $58.6 million in volume on Day 1.
In mid-December, XRP ETFs surpassed a total of $1 billion worth of assets, and they are now approaching the $1.4 billion mark.
Dan Burgin
Alex Dovbnya
Caroline Amosun