New York, January 7, 2026, 14:36 ET — Regular session
- XRP down about 2% after WisdomTree filed to withdraw its proposed spot XRP ETF registration
- Filing said the sponsor will not proceed “at this time” and no shares were sold
- Focus turns to U.S. jobs data for the next catalyst across risk assets
XRP fell about 2.2% to $2.19 on Wednesday after WisdomTree asked U.S. regulators to withdraw its proposed spot XRP exchange-traded fund, a filing showed. The sponsor said it had decided “not to proceed at this time” and that no shares were sold under the registration statement, first filed on Dec. 2, 2024. XRP traded between $2.17 and $2.32 in the session. SEC
The dip comes as big financial firms keep pushing deeper into crypto products, betting investor demand will hold and rules will stay friendlier. Morgan Stanley filed on Tuesday for ETFs tied to bitcoin and solana, and Morningstar analyst Bryan Armour said a big bank’s entry into the crypto ETF market “adds legitimacy.” Reuters
Crypto has also been moving like a high-beta risk trade, sensitive to rates and broader positioning. The dollar was little changed on Wednesday as traders assessed U.S. labour data and waited for the next official jobs report for direction on policy expectations.
In the U.S., the SEC last year approved listing-rule changes for spot crypto ETFs — funds that aim to hold the asset itself rather than futures — cutting the time from filing to launch. Bitwise president Teddy Fusaro called that regulatory shift a “watershed moment” for digital-asset products. Reuters
The pipeline has been busy. Asset managers have queued filings tied to coins beyond bitcoin and ether, in a land-grab where being early can matter as much as fees. “We’re all getting ready for a wave of launches,” Canary Capital founder Steven McClurg said last year, pointing to roughly a dozen filings at the time. Reuters
But some issuers have stepped back as the field gets crowded. CoinShares in late November filed to withdraw registration statements for an XRP ETF, a solana staking ETF and a litecoin ETF, saying it would focus on higher-margin opportunities ahead of a U.S. listing.
The risk for XRP is that the ETF story loses momentum just as macro swings get sharper. A weaker-than-expected U.S. private-payrolls report on Wednesday kept attention on Friday’s government jobs report, where any upside surprise could lift yields and weigh on crypto.
Traders are now watching the U.S. Employment Situation report on Jan. 9 and the CPI inflation report on Jan. 13, ahead of the Federal Reserve’s next policy meeting on Jan. 27-28.
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