XRP ETF Launch Scrapped by WisdomTree

WisdomTree Withdraws US XRP ETF Application

• WisdomTree has withdrawn its application to launch an XRP exchange-traded fund (ETF) in the US.
• The withdrawal request was filed with the Securities and Exchange Commission (SEC).
• The decision follows WisdomTree’s earlier launch of WisdomTree Physical XRP (XRPW) in Europe, trading on major platforms like Deutsche Börse Xetra and Euronext.
• US-listed XRP ETFs have accumulated $1.2 billion in inflows, with net assets nearing $1.5 billion.
• Canary Capital leads the US XRP ETF market, followed by Bitwise, Franklin Templeton, and Grayscale.

WisdomTree has opted to withdraw its bid for a US-based XRP ETF amid a competitive landscape dominated by early entrants like Canary Capital. Despite this move, other firms continue to pursue crypto ETF plans.