Japanese financial giant SBI Holdings is planning to launch Bitcoin and $XRP exchange-traded funds (ETFs) on the Tokyo Stock Exchange.
The move could proceed once regulators approve the products, according to an investor presentation recently highlighted by $XRP community figure Xaif.
Xaif said SBI is targeting nearly $32 billion in assets under management within three years while preparing investment products tied to both Bitcoin and $XRP. The plans come as Japan advances regulatory reforms that classify crypto assets as financial instruments.
Key Points
- SBI plans Bitcoin and $XRP ETFs on Tokyo Stock Exchange, pending approval, targeting $32B AUM within 3 years.
- Japan reclassified crypto assets as financial instruments, adding stricter rules, disclosures, and insider trading bans.
- SBI proposes a hybrid gold-crypto trust and a Bitcoin/$XRP ETF, expanding institutional crypto exposure in Japan markets.
- Rakuten, Nomura, and others are developing crypto ETFs as Japan moves toward regulated crypto investing by 2027–2028.
SBI Proposes $XRP ETF Products for Japan
A key highlight from SBI’s report is a proposal for Tokyo Stock Exchange crypto ETFs that would include $XRP alongside Bitcoin.
The report outlined two proposed investment products. The first is a hybrid “Gold & Crypto Assets (Digital Gold)” trust that would allocate more than 51% to gold ETFs and up to 49% to crypto ETFs such as Bitcoin ETFs.
The second proposal is a dedicated crypto-asset ETF listed on the Tokyo Stock Exchange that would include Bitcoin and $XRP. The presentation specifically referenced an “SBI Bitcoin/$XRP ETF.”
Japan’s FSA Reviews Crypto as Financial Instruments
SBI’s presentation also pointed to regulatory discussions in Japan. At the time, the report noted that Japan’s Financial Services Agency had already released a review document examining the country’s crypto regulatory framework, including revisions that could classify crypto assets as financial instruments.
This classification has since been approved. Last week, Japan amended its Financial Instruments and Exchange Act, officially reclassifying crypto assets as financial instruments. Notably, this puts crypto under the same regulatory framework as stocks and securities.
Meanwhile, the changes introduce bans on insider trading, mandatory annual disclosures for crypto issuers, and stricter penalties for unregistered exchanges.
The shift represents a major regulatory change for Japan’s crypto market and could accelerate approval of products such as crypto ETFs and institutional investment trusts.
The proposed changes may also strengthen the role of $XRP and other digital assets in Japan’s traditional financial markets.
Japan Brokerages Develop In-House Crypto Trusts and ETFs
Meanwhile, according to new updates from local media Nikkei, SBI Securities and Rakuten Securities are developing in-house crypto investment trusts and ETFs tied to assets like Bitcoin and Ethereum.
The products will be distributed directly to retail investors through existing brokerage platforms and mobile apps.
Several major firms, including Nomura Securities, Daiwa Securities, and SMBC Group, are also preparing crypto investment products.
Japan is moving toward allowing crypto-backed trusts and ETFs by 2027–2028. The reforms aim to make crypto investing more accessible through traditional brokerage accounts instead of dedicated exchanges or wallets.
