Eric Balchunas, senior ETF analyst at Bloomberg, has clarified his earlier statement about demand for XRP exchange-traded funds (ETFs).
Balchunas claims that Bloomberg analysts never argued that there was no demand for XRP.
That said, the further away you get from Bitcoin, the fewer assets there will be, the analyst explained.
Hence, compared to Bitcoin ETFs, XRP ETFs will indeed see relatively little demand.
Underestimated demand?
The debate surrounding the potential level of demand for yet-to-be-approved XRP ETFs comes after Chicago-based trading giant CME Group revealed that regulated XRP futures managed to cross $1 billion in open interest (OI) in less than four months, breaking the record for the fastest-ever contract to do so.
Moreover, futures-based XRP ETFs have already surpassed $800 million in virtually no time.
Hence, NovaDius Wealth Management President Nate Geraci claims that the level of demand for XRP ETFs is being underestimated.
Current approval odds
As reported by U.Today, the SEC has repeatedly delayed announcing its decisions on various spot XRP ETF proposals. The most recent postponement took place on Aug. 18.
However, it should be noted that this is a standard practice, and spot XRP ETFs are still overwhelmingly expected to be greenlit this year.
As reported by U.Today, Bloomberg analysts previously stated that XRP ETFs had extremely high odds of being approved in 2025.
Polymarket bettors also see an 82% chance of being greenlit this year.
At the same time, BlackRock has reportedly ruled out filing for an XRP ETF.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team