Japanese financial services group SBI Holdings has revealed plans to launch the country’s first dual-asset cryptocurrency exchange-traded fund (ETF), offering investors exposure to both Bitcoin and XRP.
In its earnings report released on Thursday, the company outlined two proposed ETF products. The first would combine gold and cryptocurrency investments in a single trust, allocating 51% to gold-based ETFs and 49% to crypto-asset ETFs, such as those tracking Bitcoin. This investment trust would be publicly offered in Japan.
Bitcoin and XRP ETF set for Tokyo Stock Exchange listing
The second product focuses entirely on cryptocurrencies, pairing Bitcoin with XRP in a single ETF. SBI plans to list this on the Tokyo Stock Exchange, the largest in Japan.
The launch of these products is dependent on approval from regulators. SBI said it aims to introduce the ETFs “upon regulatory approval”, suggesting that talks with authorities are still ongoing. If approved, they would be the first crypto ETFs publicly available in Japan’s highly regulated financial market.
Regulatory Changes Could Pave The Way
SBI’s report also referred to ongoing discussions within Japan’s Financial Services Agency (FSA) to reclassify crypto assets. This shift in regulation could play a role in paving the way for such ETFs in the country.
Although some news outlets have reported that an XRP-Bitcoin ETF has already been filed, it is still unclear whether SBI has formally submitted its proposals to the FSA or if they remain in the planning stage.
