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SBI Holdings Plans Bitcoin-XRP-Gold ETF — Approval Still Pending

SBI Holdings aims to debut an innovative Bitcoin-XRP ETF on the Tokyo Stock Exchange.

By Mike Hesp
• 2 min read
SBI Holdings Plans Bitcoin-XRP-Gold ETF — Approval Still Pending

SBI Holdings plans to debut an innovative Bitcoin-XRP ETF on the Tokyo Stock Exchange. This is a first for Japan's financial sector. But before investors can jump in, regulator approval is required. What obstacles remain and what role do gold and Ripple play here.

The Japanese financial services provider SBI Holdings plans to launch an exchange-traded fund (ETF) that includes both Bitcoin (BTC) and Ripple (XRP). The ETF will be listed on the Tokyo Stock Exchange and is targeted at institutional investors. In addition to the Bitcoin-XRP ETF, SBI is also planning a second fund that invests 51 percent in gold ETFs and 49 percent in cryptocurrency.

Regulator approval has not yet been granted. In its latest financial report, SBI notes that approval by the Japanese Financial Services Agency (FSA) is a key condition for moving forward. For now, this is just a concept and no formal application has been filed.

The FSA is currently reviewing its rules for crypto-backed financial products. In this context, SBI advocates treating crypto-assets the same as traditional financial instruments. Only then can a competitive tax treatment and a functioning ETF market take shape.

An important detail: SBI is one of Ripple's closest institutional partners. The company runs SBI Ripple Asia with Ripple and has used XRP for cross-border payments for years. The planned ETF would further strengthen this collaboration if regulators grant approval.

Whether Japan will beat the U.S. to XRP-ETF approval remains unclear. One thing is certain: institutional interest in regulated crypto products is rising, and Japan is positioning itself as a proving ground for innovative, digitally focused financial products.

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