Water soluble CdSe nanotetrapods are prepared by ligand exchange from organic‐soluble ones. In order to achieve this, oleic acid, which is the capping agent for as prepared water‐insoluble nanotetrapods, is exchanged with mercaptopropanoic acid (MPA). Shape and size of nanotetrapods are conserved upon ligand exchange. Ground state bleach recovery dynamics remain the same as well. However, they are completely non‐emissive. These water‐soluble nanotetrapods disrupt the secondary structure of Human Serum Albumin (HSA) and consequently, release warfarin bound to the protein.