Key Takeaways:
- SBI Holdings plans to launch Japan’s first Bitcoin-XRP ETF, pending regulatory approval.
- A separate ETF combining gold and crypto assets is also proposed for public offering in Japan.
- Japan’s Financial Services Agency is considering reclassifying digital assets to support crypto ETFs.
SBI Holdings has announced plans to launch Japan’s first cryptocurrency ETF offering dual exposure to Bitcoin and XRP.
The initiative is part of two proposed crypto-linked ETF products outlined in the company’s latest earnings report.
JUST IN: 🇯🇵 SBI files for XRP and Bitcoin ETFs in Japan. pic.twitter.com/kBKToxffLY
— ChainDesk (@ChainDesk_) August 6, 2025
One product would bundle gold and crypto ETFs into a single investment trust, allocating 51% to gold and up to 49% to crypto assets such as Bitcoin.
The second proposal involves a Bitcoin-XRP dual-asset ETF, which SBI intends to list on the Tokyo Stock Exchange.
However, both products are pending regulatory approval from Japan’s Financial Services Agency (FSA).
SBI emphasized that the ETFs would only launch “upon regulatory approval”, suggesting that discussions with the FSA are likely ongoing.
The FSA is also reviewing the legal classification of crypto assets, having proposed in June to recognize certain digital assets as financial products under the Financial Instruments and Exchange Act.
If implemented, this shift could support crypto ETF launches and potentially ease the tax burden on digital assets.
Despite media speculation, it remains unclear whether SBI has formally filed the Bitcoin-XRP ETF or if it is still in the planning stages.
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