SBI Holdings Plans Japan’s First Dual Bitcoin-XRP ETFs Pending Approval
Japanese financial firm SBI Holdings plans to launch crypto-asset-linked investment trusts and ETFs, pending regulatory approval from the Financial Services Agency (FSA).
- SBI announced this during its earnings report for Q2 2025.
- It aims to introduce Japan's first dual ETFs, featuring a Bitcoin-XRP mix and a "gold and digital gold" ETF with over 51% in gold ETFs and up to 49% in crypto-asset ETFs.
- The firm seeks to become Japan's leading crypto asset exchange, targeting 60 million account signups by leveraging synergies with securities and banks.
- SBI plans to enter the Japanese stablecoin market, focusing on USD-backed and JPY-backed stablecoins, including investments in Ripple's RLUSD.
- The company advocates for stablecoins linked to the Japanese yen to boost demand for government bonds and enhance yen stability.
- SBI reported an operating revenue of approximately $421 million, a 9.4% year-over-year increase, but a 5.2% decline in operating income due to higher transaction-related expenses and increased operational costs.