Japanese financial giant SBI Group has officially submitted applications for spot ETFs for Bitcoin and Ripple (XRP). Given SBI's strong influence in Japan and the compliance of its application, the market generally expects a high probability of approval for this ETF. This means that the listing of the Bitcoin and XRP spot ETFs in Japan is merely a matter of time.
Core Impact: Opening of Institutional Capital Channels: After the ETF launch, it will provide compliant and convenient entry channels for large financial institutions such as SBI, enabling large-scale investments.
Significant Tax Advantages: This ETF is subject to Japan's 20% financial income tax rate (far lower than the tax rate for directly holding cryptocurrencies), making it more attractive to investors.
The vast institutional and high-net-worth capital in the Korean and Japanese markets is expected to flood into the cryptocurrency market through this ETF. Combined with the Japanese market's historical preference for XRP, the launch of this ETF is expected to inject strong upward momentum into XRP.
