SBI outlines plans to launch Japan’s first Bitcoin-XRP dual ETF

Key Points

1. SBI Holdings unveiled plans for two crypto-based ETF products: a gold-crypto ETF and a Bitcoin-XRP dual ETF.

2. The gold-crypto ETF will allocate 51% to gold-based ETFs and 49% to crypto-asset ETFs like Bitcoin ETFs, to be offered as an investment trust in Japan.

3. The Bitcoin-XRP dual ETF will combine Bitcoin and XRP and is planned to be listed on the Tokyo Stock Exchange.

4. If approved, these would be the first crypto ETFs publicly offered in Japan's tightly regulated market.

5. Japan's Financial Services Agency (FSA) has proposed reclassifying crypto assets under the Financial Instruments and Exchange Act (FIEA), which could facilitate crypto ETFs and lower crypto taxes.