SBI Holdings just made a move that could put Japan at the forefront of regulated crypto investing. In its latest earnings report, the Japanese financial heavyweight revealed plans to launch the country’s first-ever Bitcoin-XRP dual ETF, alongside another product that blends gold and crypto exposure into a single investment trust.
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It’s an ambitious step in a market where crypto regulation has been cautious, to say the least. But if SBI pulls it off, this could open the door to mainstream crypto access for retail and institutional investors across Japan.
SBI’s First Planned Product Bundles Gold and Crypto ETFs
SBI’s first planned product bundles gold and crypto ETFs into a trust. According to the breakdown, the fund would allocate 51% into gold ETFs and 49% into crypto ETFs, with Bitcoin likely taking the lead in that second category.
While hybrid commodity-crypto products have popped up in other markets, this would be the first of its kind in Japan. Framing crypto as a store-of-value investment—alongside literal gold—could appeal to investors who see Bitcoin as digital gold but still want some old-school insurance.
Investors Are Most Excited about the Bitcoin-XRP Dual ETF
The real headline here is the Bitcoin-XRP dual ETF proposal. SBI wants to list it on the Tokyo Stock Exchange, Japan’s largest. This is a big leap from just holding crypto in self-custody or dabbling in loosely regulated trading platforms. It represents a shift toward financial products that wrap crypto into the same regulatory and structural frameworks as stocks or bonds.
SBI hasn’t confirmed whether the proposal has already been submitted to Japan’s Financial Services Agency, but they’ve made clear that everything hinges on regulatory approval. And with the FSA recently exploring ways to reclassify crypto assets as financial instruments under the FIEA, the timing might actually be right.
Why XRP, and Why Now?
Bitcoin makes sense. It’s the original and still-dominant crypto asset, especially with global ETF momentum accelerating. But including XRP (XRP-USD) is a brave, but calculated move. XRP is particularly popular in Asia, and SBI has long been a public backer of Ripple’s ecosystem. The inclusion of XRP in a regulated ETF format would give the token a new level of legitimacy in Japan’s financial system, something that could have ripple effects far beyond this one product.
This ETF would also provide a more diversified way for Japanese investors to get crypto exposure. Instead of betting on just one token, they’d be investing in a packaged view of both Bitcoin’s staying power and XRP’s potential use case in payments and finance.
SBI Is Waiting on the Green Light
SBI made clear that nothing launches without a regulatory go-ahead. But even just the announcement shows how fast the line between traditional and digital finance is blurring. If these ETFs are approved, they’ll likely be watched closely by global players, especially in regions where crypto ETFs are still banned or stuck in regulatory limbo.
In Japan, this could signal the start of a new wave of investment products that meet the country’s high standards for investor protection, while still offering access to a rapidly evolving asset class.
Investors interested in crypto should stay informed by tracking the prices of their favorite cryptocurrencies and using technical analysis tools on the TipRanks Cryptocurrency Center. Click on the image below to find out more.
