u.today
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, 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.