Unlike Bitcoin and Ethereum ETFs, which had the backing of financial giants like BlackRock and Fidelity, XRP lacks such heavyweights. Both asset managers have publicly dismissed the idea of launching an XRP-based fund, which has left some traders discouraged.

Others, however, argue that XRP ETFs could prove surprisingly successful. Futures-based ETFs already provide a reference point: since listing on the Chicago Mercantile Exchange (CME), XRP futures products have reached $1 billion in open interest — a historic record.

While XRP ETFs may not rival the multibillion-dollar inflows seen with Bitcoin and Ethereum, analysts suggest that even $3–4 billion in inflows, relative to XRP’s market cap, would already count as a success.

Approval by the U.S. Securities and Exchange Commission (SEC) is still pending. The regulator has repeatedly delayed its decision, most recently pushing it to late October.

According to prediction market Polymarket, the probability of approval currently stands at 87%. This is promising news for the twelve applicants, including Canary Capital, CoinShares, and Grayscale.