SBI Holdings Submits Application for Approval of Two Cryptocurrency ETFs in Japan, Including Funds Investing in XRP and Bitcoin
On August 6, according to a report from Beincrypto, Japan's leading financial group – SBI Holdings – officially revealed in its Q2 financial report that they have submitted an application to the Japanese Financial Services Agency (FSA) for approval of two cryptocurrency asset ETFs.
The first ETF will focus on direct investment in two major cryptocurrencies, XRP and Bitcoin. This is seen as a breakthrough move by incorporating XRP – one of the most controversial digital assets in recent times – into a legal investment fund structure in Japan. The second fund has a "digital gold" structure, using a hybrid method between physical gold-backed securities and cryptocurrency assets. Notably, over 50% of the net asset value of this fund will be allocated to traditional gold ETFs.
If approved by the FSA, these two ETFs will not only pave the way for legally compliant digital asset investment products in Japan but also mark a significant step for the XRP ecosystem. The inclusion of XRP in a legal ETF portfolio could create an important precedent, helping to consolidate XRP's position as an investment asset recognized by national financial regulators.
Many market experts believe that SBI Holdings' move could have a ripple effect, encouraging other financial institutions in Japan and the Asian region to accelerate the development of similar cryptocurrency-based investment products.
