73 votesGunnar Winter commented
looks like Microsoft will offer on demand cloud file access with Windows 10 later this year. But in the time being there’s already a great tool on the market: https://konnekt.io. It’s not only bring back placeholders to Windows 10, it’s also working with earlier versions of Windows and – best of all – Citrix and Terminal Server. In addition it supports UNC connectivity and drive letter mapping based on a native network provider for Office 365.
Integrated into Windows Explorer the tool makes the whole Office 365 (Sharepoint Online, Groups, Onedrive) world browsable like folder shares and structures on file servers.
Disclaimer: I am working for the company behind the tool and I am happy to personally answer questions or send a trial to anyone interested.