The demand for XRP from institutional players is becoming increasingly evident, as evidenced by the intense momentum in the regulated derivatives market.
Wealth manager Nate Geraci highlighted that CME Group’s XRP futures contracts have already surpassed $1 billion in open interest. It reached the milestone in just over three months. This makes XRP the fastest crypto futures contract to hit $1 billion OI on CME’s platform.
The rapid growth highlights the level of institutional engagement with XRP. Given the strong appetite for its futures-based products, Geraci suggested that many in the market may still be underestimating the potential demand for spot XRP ETFs.
Futures-Based XRP ETFs Surge Past $800M
Alongside CME’s milestone, futures-based XRP ETFs are seeing heavy inflows. Products like Teucrium’s 2x Long Daily XRP ETF (XXRP) and Volatility Shares’ newly launched XRPI 1x Futures ETF have helped push combined assets past $800 million.
Bloomberg ETF analyst Eric Balchunas previously noted XXRP’s rapid rise from a $5 million debut volume in April to $35 million in daily trading in May and $120 million in assets under management. This trajectory paved the way for XRPI’s strong debut in May.
The scale of flows into leveraged and futures-backed ETFs further confirms a growing institutional bid for XRP-linked investment products even as the SEC continues to delay decisions on spot applications.
At present, the SEC is reviewing more than 10 spot XRP ETF applications from asset managers, including Grayscale, 21Shares, and Franklin. While the regulator delayed decisions on multiple filings, the final deadlines fall in Q4 2025.
BlackRock Speculation Heats Up
Adding to the anticipation, Nate Geraci recently predicted that BlackRock will eventually file for a spot XRP ETF, alongside Solana. With the firm already running the world’s largest Bitcoin and Ethereum ETFs, Geraci believes it would be “illogical” for BlackRock to ignore XRP if demand continues to rise.
He noted that if BlackRock waits until regulatory clarity improves, it may “swoop in at the last minute” to secure early-mover advantage.
XRP Community Reactions
Geraci’s latest comments have drawn strong reactions from the XRP community.
Attorney John Deaton responded by noting that he had previously predicted this outcome—just as he had predicted that the recently unveiled Gemini XRP Card would become the platform’s most popular crypto card, thanks to the strong spirit within the XRP community.
Indeed, following the launch of Teucrium’s futures ETF, Deaton had remarked that the move demonstrated Wall Street’s growing interest in XRP, something many had been reluctant to acknowledge.
In his latest commentary, Deaton pointed out that the Gemini app has now even surpassed Coinbase in recent app downloads. He also recalled how over 75,000 XRP holders from 143 countries participated as amici in the now-concluded SEC v. Ripple lawsuit. “Nothing like that has happened before,” he said.
Responding to Deaton, Brad Kimes of Digital Perspectives commented that if the XRP card has already gained this level of popularity, market participants should consider the impact of more than 10 XRP ETF applications going live. He suggested it could have a major influence on the price of the coin.
If an XRP credit card is this popular, imagine around 20 XRP spot ETFs getting approved at the same time.
Lock in. 😎👇 https://t.co/RHo1P7gV2F
— Digital Perspectives (@DigPerspectives) August 26, 2025
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