- XRP futures topped $1B open interest in three months, fueling expectations for strong spot ETF demand.
- SEC reviews multiple XRP ETF filings, while analysts and retail community prepare for major inflows.
The case for a spot XRP exchange-traded fund (ETF) is building as analysts point to rising demand. Geraci, NovaDius Wealth Management’s president and ETF Prime’s host, stated that investors seem not to grasp the potential capital inflow from approved XRP ETFs.
XRP futures contracts exceeded $1 billion in open interest in barely three months, a feat only Geraci’s CME Group mentioned. No other CME crypto contract seems to even come close to this speed. “There will be organic demand for spot XRP ETFs,” Geraci said, indicating that futures activity marks a distinct interest in the asset.
CME Group says xrp futures contracts have crossed over $1bil in open interest…
Fastest-ever contract to do so (took just over 3mos).
There’s already $800+mil in futures-based xrp ETFs.
Think people might be underestimating demand for spot xrp ETFs.
— Nate Geraci (@NateGeraci) August 26, 2025
Futures Market and SEC Filings
Futures-based XRP ETFs already manage more than $800 million. Geraci suggested that demand for those products could carry over into spot funds. Several managers, including Bitwise, Canary Capital, WisdomTree, 21Shares, CoinShares, Franklin Templeton, and Grayscale, have applications pending before the U.S. Securities and Exchange Commission (SEC).
The SEC recently extended the review period for WisdomTree’s application until October 24, 2025. Other applications face deadlines in the coming weeks, with October set as the final date for the Commission to make decisions on multiple filings.
Analysts expect approval could come soon. Last year, the SEC was required by a court to allow spot Ethereum ETFs after approving futures-based products. That precedent has shaped expectations around XRP.
Geraci noted that several issuers filed amended S-1 forms with the SEC, describing the development as “a very good sign.” Bloomberg analyst James Seyffart agreed, saying the amendments show that issuers have received feedback from regulators and remain engaged in the process.
Community Support and Market Activity
Attorney John Deaton also forecasted strong interest. He said, “the XRP ETFs will record massive demand,” pointing to the scale of XRP’s retail community. Deaton compared the prediction to his call on Gemini’s XRP card, which he said would become the exchange’s most popular product.
I predicted this just like I predicted @Gemini’s XRP Card would be Gemini’s most popular credit card. In fact, I think XRP holders made the Gemini App surpass Coinbase app regarding recent downloads. Remember, 75K XRP Holders, from 143 Countries around the world, joined as amici… https://t.co/EqVPaGOznB
— John E Deaton (@JohnEDeaton1) August 26, 2025
Deaton noted that while 75,000 XRP holders from 143 countries filed to join the Ripple lawsuit as amici curiae, this was a first in the ripples of the crypto industry.
“By a wide margin, XRP is the most disliked crypto by institutional and professional traders/holders. On the other hand, XRP is the most liked crypto by retail investors/holders,” he remarked.
At the same time, we notice the growth of XRP in the markets. CME Group announced that its crypto futures suite topped $30 billion in open interest, with XRP futures making up more than $1 billion. As Ripple-financed IPO looms, Gemini has introduced an XRP credit card with up to 4 percent cashback.
As of press time, XRP is trading near $3.00, which is a 3% increase in 24 hours and a 4% increase over the week.
