SBI Holdings is at the forefront of proposing Bitcoin ETFs and Ripple (XRP) in Japan, paving the way for broader, safer, and more transparent access to cryptocurrency investments.
These moves by SBI Holdings not only reflect the ambition to integrate cryptocurrencies into mainstream financial flows but also show that Japan is ready to lead the global market in legal frameworks and digital asset innovations.
MAIN CONTENT
SBI Holdings proposes to launch Bitcoin ETFs and XRP in Japan, aiming to popularize cryptocurrency investments for domestic investors.
SBI's ETFs diversify portfolios with both digital assets and gold-backed assets to balance risks.
Japan builds a favorable legal framework, demonstrating its leading position in product innovation in cryptocurrency investment compared to many other countries.
Who is SBI Holdings and what is its role in Japan's financial market?
SBI Holdings is a large financial group with extensive influence in Japan, notable for its innovative orientation and continuous expansion into areas such as banking, securities, and technology investment.
SBI Holdings is known as one of the pioneering groups in applying financial technology and investing in the cryptocurrency sector. According to its annual report, SBI Holdings possesses a diverse ecosystem including digital banking, exchanges, fintech services, and significant investments in major global blockchain projects. This role helps the group create a favorable environment to deploy new financial products like ETFs based on digital assets.
Continuous innovation in financial products is key to maintaining a leading market position. The development of SBI's cryptocurrency ETFs demonstrates a strong commitment to the digitization process of the financial industry in Japan.
Yoshitaka Kitao, CEO of SBI Holdings, stated in the 2025 strategic report.
Overall, SBI Holdings not only leads domestic trends but also develops international partnerships, especially with Ripple. This is the foundation for attracting both individual and institutional investors to participate in cryptocurrency investment products under the protection of the law.
What are SBI Holdings' Bitcoin ETFs and XRP?
Bitcoin ETFs and XRP ETFs are professionally managed funds that provide investors with direct access to Bitcoin and Ripple through listed and supervised financial products.
ETFs (Exchange-Traded Funds) are a type of investment fund that simulates the price movements of one or more types of assets without requiring investors to directly hold those assets. For Bitcoin ETFs and XRP ETFs, investors can buy and sell fund certificates like stocks on the stock exchange. This simplifies the investment process, increases transparency, and reduces personal security risks by eliminating the need to self-manage wallets and private keys.
The ETF model has proven effective in many developed markets, such as the United States with the first Bitcoin ETFs approved in early 2024 (source: Bloomberg Intelligence, 2024). These ETFs help increase asset liquidity, reduce price discrepancies, and open the door to cryptocurrency market access for cautious investors.
The inclusion of Bitcoin and XRP in the ETF structure could be the next significant development for both the Japanese market and the global investment ecosystem.
Nobuyuki Hirano, former President of the Japanese Bankers Association, 2024
For Japan, SBI Holdings' ETF products will contribute to increasing legitimacy, protecting rights, and enhancing public trust in the cryptocurrency market.
How has SBI Holdings submitted its Bitcoin ETF and XRP proposals?
SBI Holdings has officially submitted proposals for Bitcoin ETFs and XRP with the aim of promoting cryptocurrency investment in Japan through licensed and strictly managed channels.
According to documents published on the group's website, SBI Holdings affirms its product diversification strategy, not only focusing on digital assets but also expanding into gold, providing price risk insurance options and stabilizing portfolios. The ETF proposal has been submitted by SBI to Japan's financial regulatory agencies, and this process fully complies with the requirements of the securities regulatory agency and internal supervision criteria.
This event marks a significant turning point as Japan could become one of the first countries in Asia to accept and manage diverse digital asset ETFs in the traditional financial system. Currently, the approval process is still under consideration, and no official announcements have been made regarding the approval of XRP ETFs or Bitcoin.
SBI's record-keeping system reflects a long-term vision and high standards of risk governance to ensure these ETFs operate safely, transparently, and in line with investor expectations and domestic legal regulations.
How does SBI Holdings' ETF differ from traditional ETFs?
SBI Holdings' ETF is distinctive due to its combination of both digital assets and gold in its product structure, helping to balance risks and increase attractiveness to investors.
The ability to diversify with ETFs is a standout feature for investors in Japan. Not only focusing on Bitcoin and XRP, SBI also includes gold-backed assets in its ETFs. This reduces strong price volatility from cryptocurrencies and optimizes risk balance for traditional investors who are wary of new assets.
According to the proposed model, the first ETF fund focuses on cryptocurrency assets, while the remaining fund integrates Bitcoin, XRP, and gold as collateral assets. This mechanism is similar to multi-asset ETFs that have been successful in the U.S. and Europe, allowing the fund to adapt flexibly to macroeconomic fluctuations.
The balance between high-risk assets (cryptocurrency) and stable assets (gold) makes SBI Holdings' ETFs more suitable for both individual and institutional investors seeking diverse and safer investment channels.
What impact does the alliance between SBI and Ripple have on XRP ETFs?
SBI Holdings maintains extensive partnerships with Ripple, leveraging a global payment network and large XRP trading volumes to strengthen its ETF products.
Since 2016, SBI has become a major shareholder and strategic partner of Ripple in Asia. Through SBI-Ripple Asia, hundreds of Japanese financial institutions are connected to the cross-border payment system using XRP. Particularly, the service that converts credit card reward points into XRP has helped spread the value of XRP to millions of individual customers, enhancing practical application and integration potential of the XRP ETF.
SBI's leveraging of Ripple's network gives them a significant advantage when deploying the XRP ETF, especially regarding liquidity and transaction scale.
Brad Garlinghouse, CEO of Ripple Labs, interviewed by Nikkei Asia, 2025
This close linkage not only reinforces the credibility of XRP ETFs but also enhances the potential to expand customer reach across Japan's entire financial ecosystem.
Has SBI Holdings' XRP ETF been approved, or is it just a rumor?
So far, SBI Holdings has only taken steps to submit a proposal for the XRP ETF, and there has been no official information about approval from Japanese authorities.
Public opinion on social media platforms often confuses the legal status of the XRP ETF proposed by SBI Holdings. Reports of approval are inaccurate or misleading; currently, SBI has not issued any announcement confirming that the XRP ETF has been licensed by state agencies. This indicates the need to be cautious in receiving information and always check official sources from SBI or Japanese regulatory authorities.
However, the current legal framework in Japan is quite open to financial innovation. Flexible moves from the central bank and financial supervisory organizations increase expectations for the early approval of XRP ETFs along with Bitcoin.
Investors and organizations should pay attention to updating information from official sources to avoid getting caught up in unverified rumors.
How is Japan preparing the legal framework for cryptocurrency ETFs?
Japan is building an advanced legal system aimed at tightly managing and promoting financial product innovation, including cryptocurrency-based ETFs.
In 2025, a special task force on Web3 policy was established under Japan's largest financial agency. This initiative aims to standardize processes, facilitate the development of new investment products like cryptocurrency ETFs, while also protecting shareholder rights and ensuring product quality.
Additionally, anti-money laundering laws and exchange management regulations have been continuously improved since 2022, reaching the reference standards of financial markets in Europe and North America (source: Financial Services Agency, 2025). This helps minimize risks, protect individual users, and tighten transparency in all financial activities related to digital assets.
Japan proves its leading role in Asia in regulating and managing digital financial products, especially with a stringent legal system that ensures safety for investors.
Asia Securities Industry & Financial Markets Association (ASIFMA), 2025
This open and advanced legal environment encourages financial institutions like SBI Holdings to boldly deploy cryptocurrency ETFs, thereby establishing new standards for the Asian region.
Comparing Japan's position with other countries in developing cryptocurrency ETFs
Japan is in a leading position in Asia regarding proposals for Bitcoin ETFs, XRP, and multi-assets, while the United States remains cautious with Altcoin ETFs, and South Korea has just begun policy discussions.
Below is a brief comparison table of cryptocurrency ETF progress in several representative countries:
Country Progress Cryptocurrency ETFs Main Characteristics Japan Proposed Bitcoin ETF, XRP, multi-asset ETFs (not yet approved) Expanding into gold assets, clear legal framework, strong Ripple partnership United States Approved Bitcoin Spot ETFs, cautious with Altcoin ETFs Complex approval process, high liquidity South Korea Discussing cryptocurrency ETFs, not yet official Focusing policy, expanding social discussions EU Some Bitcoin ETFs, limited Altcoin listings Separate legal framework for each country, poorly synchronized.
By comparison, it can be seen that Japan is one of the countries ahead in experimenting and standardizing diverse financial products based on blockchain, maximizing technological advantages and risk management.
What do Japanese investors expect from SBI Holdings' ETFs?
Investors expect SBI Holdings' ETFs to create transparent, flexible investment channels that reduce risks while increasing liquidity for assets like Bitcoin and XRP.
ETFs allow investors to access the cryptocurrency market without directly managing cold wallets, private keys, or self-insuring personal security risks. These ETFs, under the supervision of state agencies and the risk governance standards of leading financial groups like SBI, create a more solid foundation of trust compared to traditional personal investments.
In addition to protective benefits, ETFs also provide accessibility, especially for investors who are not experts in blockchain, thereby increasing the ownership rate of cryptocurrencies in the public's investment portfolios.
The participation of major financial institutions like SBI with stringent control mechanisms is a turning point that attracts traditional investors into new areas such as digital assets.
CryptoCompare Research, Global ETF Market Report 2025
Additionally, SBI's gold-crypto ETFs reduce portfolio volatility, making them suitable for investors seeking integrated classic and innovative products.
What is the market potential and forecast for Bitcoin and XRP ETFs in Japan?
The cryptocurrency ETF market in Japan is expected to reach billions of dollars in the coming years, with strong growth expectations supported by a modern financial ecosystem and reputable institutions like SBI Holdings.
According to Tokyo Asset Management, the total market value of traditional ETFs in Japan is around $600 billion as of Q1 2025. The addition of cryptocurrency ETFs is expected to trigger new capital flows from both domestic and international investors, while diversifying funding sources for Japan's blockchain and fintech ecosystem.
Forecasts for Bitcoin ETF and XRP capital flows depend on legal developments, the level of institutional investor acceptance, and the global macroeconomic situation. However, with SBI's market position and management experience, experts predict that Bitcoin ETFs and XRP will reach billions of dollars in scale within the first three years of operation (source: Global ETF Management Outlook, 2025).
SBI's multi-asset ETF model could become a reference standard for Asian countries to learn from, while also increasing the competitiveness of Japan's stock market on the global financial map.
What are the legal and operational challenges when deploying cryptocurrency ETFs in Japan?
The biggest legal challenge comes from maintaining transparency standards, controlling money laundering, and monitoring digital risks when integrating cryptocurrency assets into traditional ETFs.
Japanese regulatory authorities require ETFs to publicly disclose the origins, securely store assets, and have security mechanisms against loss incidents, hacks, or vulnerabilities in smart contracts. Additionally, all ETF transactions must be monitored by a KYC, AML system in line with international standards to prevent money laundering and the financing of terrorism.
The coordination between banks, securities firms, exchanges, and custodians operating multiple types of assets simultaneously requires a modern digital technology infrastructure and high-level personnel in security, on-chain transactions, and liquidity provision.
Ensuring these criteria will determine the success or failure of cryptocurrency ETFs in Japan and the expansion of products globally in the future.
Frequently Asked Questions
Have SBI Holdings' Bitcoin and XRP ETFs been approved yet?
Not yet. SBI Holdings has only submitted a proposal; there has been no official announcement from the authorities regarding the approval of Bitcoin ETFs and XRP at this time.
What are the core benefits of investing in SBI's cryptocurrency ETFs?
Investors will access Bitcoin and XRP through a transparent channel, supervised by law, minimizing personal security risks and enjoying diversification with collateral assets like gold.
What is Ripple's role in the development of XRP ETFs in Japan?
Ripple provides the cross-border payment infrastructure and high liquidity for XRP, creating a technical foundation and reliability for the inclusion of XRP into the ETFs developed by SBI Holdings.
What experience does SBI Holdings have in the cryptocurrency sector?
SBI has been a major shareholder of Ripple since 2016, leading the implementation of many blockchain-based financial services and building a network of collaborations with numerous global financial institutions.
How do cryptocurrency ETFs in Japan differ from major markets like the United States?
Japan encourages multi-asset ETFs integrating gold and crypto, applying a transparent legal framework that strongly protects investors, while the United States primarily allows spot Bitcoin ETFs and tightens Altcoin ETFs.
What risks should be considered when investing in cryptocurrency ETFs?
The large price volatility of crypto assets, technical risks, legal changes, and the level of transparency of the ETF issuer are factors that investors need to consider carefully.
When can Bitcoin ETFs and XRP be traded in Japan?
The timing of trading depends on the approval process of the Japanese authorities; there has been no official announcement regarding the listing date of the Bitcoin ETF or XRP.
Source: https://tintucbitcoin.com/sbi-nop-ho-so-etf-bitcoin-xrp/
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