Japanese financial giant SBI Holdings has filed proposals for exchange-traded funds (ETFs) tracking Bitcoin and XRP, aiming to mainstream cryptocurrency investments within the country. This initiative leverages SBI’s strategic alliance with Ripple and aligns with Japan’s established regulatory framework for digital assets.
In addition to the cryptocurrency ETFs, SBI Holdings is looking to diversify its offerings with a gold-backed ETF. This move is designed to provide investors with avenues to balance the inherent volatility often associated with digital assets while offering secure investment alternatives.
Clarifying recent market speculation, reports suggesting SBI has already secured approval specifically for an XRP ETF are inaccurate. Both the Bitcoin and XRP ETF proposals are currently under regulatory review, awaiting formal approval from Japanese authorities.
The prospects for approval appear bolstered by Japan’s overall regulatory stance, which is increasingly favorable towards digital innovation. This is underscored by the recent launch of a Working Group focused on Web3 policy formulation within the Japanese government.
If ultimately sanctioned by regulators, SBI’s pioneering ETFs would position Japan as a prominent leader in accessible cryptocurrency investment products, potentially outpacing developments in markets like the United States and South Korea.