WisdomTree has pulled back from its spot XRP ETF push, officially withdrawing the S-1 registration filing that landed just last month in December. The offering won't move forward right now—no shares ever hit the market, so minimal disruption there. The timing's interesting though. While WisdomTree steps back, other XRP spot ETF products are already live and actually capturing meaningful inflows. It's a head-to-head situation where some players are gaining traction in the XRP derivatives space while others are reconsidering their strategy. Market dynamics shift fast in this corner of crypto.