SBI Submits Two Cryptocurrency ETF Applications in Japan, One Focused on XRP and Bitcoin

According to reports, SBI Holdings disclosed in its second quarter earnings announcement that it has submitted applications for two cryptocurrency asset ETFs to the Japanese Financial Services Agency. One is focused on cryptocurrency assets, directly involving XRP and Bitcoin; the other is a digital gold crypto ETF, combining gold-backed securities and digital currency, with over 50% of the fund allocated to gold ETFs. Once approved by the Japanese Financial Services Agency, these ETFs will bring significant changes to the XRP ecosystem and the cryptocurrency industry, officially granting XRP regulatory recognition and positioning it as an investment asset. Market analysts say that SBI's move may stimulate other financial institutions to launch similar products.