New York, Jan 15, 2026, 13:11 EST — Regular session
- XRP stock (Bitwise XRP ETF) dropped roughly 3% around midday following the delay of a Senate crypto-bill session
- The delay also impacted other crypto-related stocks, including Coinbase
- Traders are focused on when the bill talks will resume and the Senate’s schedule for next week
Shares of the Bitwise XRP ETF—popularly called “XRP stock” among retail investors—dropped 3.2%, slipping to $23.37 in Thursday afternoon trading. The decline followed the U.S. Senate Banking Committee’s decision to delay a key session on a major crypto market-structure bill. Senate Banking Committee
The bill is significant because it aims to clarify which U.S. regulator is responsible for what in crypto markets—a shift investors see as a possible gateway to more institutional interest. When it comes to XRP-related products, the idea of having “rules you can trade around” has come up repeatedly this year. Congress.gov
In the underlying market, XRP — the token — dropped roughly 2.7% in the last 24 hours, trading near $2.08. This kind of move usually filters through swiftly to spot-based funds.
Crypto-linked stocks took a hit as Washington’s delay weighed on the sector. Coinbase Global dropped roughly 3.3%. According to a Barron’s report, Coinbase withdrew its support for the bill, pointing to concerns over restrictions on stablecoin rewards and new limits affecting tokenized equities and decentralized finance.
The pullback came following a short rally in digital assets earlier this week, driven by traders betting that lawmakers were edging toward a viable regulatory framework.
SEC Chairman Paul Atkins labeled this week as “a big week for crypto” in a post on X and pushed for movement on bipartisan market-structure legislation. X (formerly Twitter)
Not everyone is sold on speed. Lynn Turner, former SEC chief accountant, called the draft “severely deficient” in investor protections in a letter, warning it might open the door to “another FTX-type fraud,” according to a Thomson Reuters Checkpoint News report. Thomson Reuters Tax
Other U.S.-listed XRP funds also slipped in sympathy. The Canary XRP ETF dropped roughly 2.8%, Franklin’s XRP fund lost around 3.2%, Grayscale’s XRP vehicle edged down about 2.8%, and the REX-Osprey XRP ETF fell close to 2.9%.
The Bitwise XRP ETF started trading on NYSE Arca in November, offering investors a way to gain exposure to XRP without owning the token itself.
The downside is clear: should the bill’s compromise collapse—especially over stablecoin yields and DeFi regulation—the legislative timeline could drag out, and the “regulatory clarity” trade might unravel quickly. The committee has pushed back against criticism in its own releases, but the concerns persist. Senate Banking Committee
Traders are now waiting for fresh timing from the Banking Committee, alongside the Senate Agriculture Committee’s scheduled release of its crypto package on Jan. 21. This move could shift expectations once more.
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