SBI Holdings, one of Japan’s top financial conglomerates, has unveiled plans to launch a pioneering dual-asset cryptocurrency ETF that would give investors exposure to both Bitcoin and XRP — marking a first for the Japanese market.
The announcement came through the company’s latest earnings report, where SBI detailed two upcoming crypto-related investment products. The first is a hybrid fund that merges traditional gold ETFs with crypto-based ETFs. The proposed allocation would be 51% gold ETFs and 49% crypto-asset ETFs, such as those tracking Bitcoin, all packaged within a publicly offered investment trust in Japan.
The second and more headline-grabbing product involves a dual ETF featuring two leading digital currencies: Bitcoin and XRP. SBI aims to list this ETF on the Tokyo Stock Exchange, the country’s largest and most prominent financial marketplace.
Awaiting the Green Light from Regulators
SBI emphasized that these offerings are contingent on receiving regulatory approval. This indicates that talks with Japan’s financial regulators, particularly the Financial Services Agency (FSA), are likely ongoing. If approved, these would be the first crypto ETFs available to the general public in Japan’s highly regulated financial environment.
In the same report, SBI highlighted the FSA’s recent efforts to potentially reclassify crypto assets under a new regulatory framework. These changes could open the door for more diverse crypto investment products, including ETFs, to enter the market.
FSA Pushes for Regulatory Reform
On June 24, Japan’s Financial Services Agency proposed amending the Financial Instruments and Exchange Act (FIEA) to classify certain crypto assets as financial instruments. This move would align digital assets more closely with traditional securities and could significantly reduce the tax burden on crypto investors.
Currently, under Japan’s Payment Services Act, cryptocurrencies are recognized as a form of digital payment. However, if the FSA’s reclassification is approved, certain tokens could be treated as securities, creating a clearer path for innovative products like crypto ETFs.
While some reports have suggested that an XRP-Bitcoin ETF filing is already in motion, it remains uncertain whether the application has officially been submitted or is still under internal development.
Download the FREE Bitcoin Mining eBook
Kickstart your mining journey with essential insights:
https://bitmernmining.com/landing-page-ebook-download/
For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble
What is your opinion on this particular topic? Leave us your comment below! We are always intere
