SBI Holdings has denied reports that it filed for a Bitcoin and XRP-based ETF in Japan, clarifying that such initiatives are still in the planning phase and dependent on future regulatory changes.
Earlier this week, multiple media outlets claimed that the Tokyo-based financial conglomerate had submitted an application for a dual crypto ETF, reportedly combining Bitcoin (BTC) and XRP, along with a second product involving gold and crypto. The speculation was said to be based on SBI’s recent earnings report.
No Crypto ETF Applications Submitted Yet, Says SBI
In a statement to Cointelegraph on Friday, a spokesperson for SBI Holdings dismissed the rumors:
“Contrary to some media reports, we have not filed any applications with the authority to form an ETF related to crypto assets. It is only at the planning stage,” the representative said.
The clarification comes amid growing interest in cryptocurrency ETFs globally, particularly in markets like the U.S. and Hong Kong.
Awaiting Regulatory Clarity from Japanese Authorities
Japan’s Financial Services Agency (FSA) recently proposed amendments to the Financial Instruments and Exchange Act (FIEA) on June 24, potentially paving the way for crypto assets to be recognized as financial products.
SBI noted that it is closely monitoring these developments and will only file ETF applications once Japan’s legal and tax frameworks are finalized.
“The filing will be done after these legal revisions have been made,” the representative confirmed.
SBI Plans Retail Access to Future Crypto ETFs
Although no official filings have been made, SBI confirmed that any future application will be submitted by its subsidiary, SBI Global Asset Management. The firm also emphasized that individual investors would be the primary target, aligning with SBI’s broader goal to “democratize alternative investments.”
No Timeline Yet for Launch
Given the regulatory uncertainty, SBI has not provided a timeline for when the Bitcoin-XRP ETF or other crypto asset ETFs might be officially filed or launched.
The company emphasized that all currently disclosed information remains preliminary.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.