SBI files for Bitcoin, XRP ETFs: Japan’s big leap into crypto

Key Points

1. SBI Holdings filed for Bitcoin and XRP ETFs in Japan, signaling a partnership with Ripple and a focus on regulated, diversified crypto investment products.

2. Reports of SBI already receiving approval for an XRP ETF are misleading, as no formal announcements have been made yet.

3. Japan is advancing its crypto regulatory framework, including a newly launched Working Group on Web3 policy, to foster a structured and innovation-friendly environment.

4. SBI plans two distinct ETF offerings: one focused exclusively on cryptocurrencies and another bundling cryptocurrencies with gold to balance volatility.

5. If approved, SBI’s ETFs could represent a significant step forward for Japan’s crypto market, contrasting with the slower progress in the U.S. and other regions.