SBI Files for Japan’s First Dual Crypto ETF Featuring Bitcoin and XRP
SBI Holdings has officially filed for a new crypto exchange-traded fund (ETF) in Japan that would offer direct exposure to both bitcoin (BTC) and XRP—an uncommon pairing in institutional investment vehicles.
Outlined in the company’s Q2 2025 earnings report, the proposed Crypto-Assets ETF is designed to track the combined performance of BTC and XRP. This structure provides investors with a single access point for diversified exposure to two of the largest cryptocurrencies by market cap.
In addition, SBI introduced a second fund—the Digital Gold Crypto ETF—which blends traditional and digital assets. The product allocates over 50% of its capital to physical gold ETFs, with the remainder invested in gold-backed crypto tokens. The hybrid strategy is aimed at risk-averse investors seeking to balance crypto growth potential with the relative stability of commodities.
While regulatory approval is still pending, these products would represent a major milestone: Japan’s first ETFs to formally include XRP. The token, despite its market stature, has faced institutional exclusion in the U.S. due to regulatory ambiguity.
SBI’s move underscores its ongoing efforts to develop regulated, institution-grade investment products that bridge digital assets and traditional finance within Japan’s evolving market landscape.
