SBI Holdings has pushed back against media reports suggesting the company filed for a dual Bitcoin-XRP exchange-traded fund (ETF) in Japan. The clarification comes amid growing attention on crypto ETFs within the Japanese financial landscape.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
SBI Rejects Reports of ETF Filing
Earlier this week, several outlets reported that SBI had submitted applications for two new ETF products. These reportedly included one tied to both gold and crypto, and another that combined Bitcoin and XRP. The reports were based on SBI’s most recent earnings presentation, which some interpreted as confirmation of a filing.
However, SBI Holdings has now directly addressed the claims. Speaking to Cointelegraph, a company representative said that these reports were incorrect and overstated the current status of the firm’s ETF plans. According to the spokesperson, no application has been filed with regulators at this time.
SBI Gives Clarity on the Current Status
The representative further explained that any move toward formal ETF filings remains in the early stages. “It is only at the planning stage,” they said, noting that regulatory conditions will determine the timing of any future filings.
SBI Is Waiting for Regulatory Clarity
This clarification follows recent developments from Japan’s Financial Services Agency (FSA), which proposed recognizing certain crypto assets as financial products under the Financial Instruments and Exchange Act (FIEA). These proposed updates would bring crypto assets under the same legal framework that governs traditional securities, making ETF approval more viable in the future.
Given this evolving regulatory backdrop, SBI says it is waiting for more clarity before moving forward. The representative emphasized that ETF filings will only be made once the necessary legal revisions are finalized and aligned with guidance from both financial and tax authorities.
“In Japan, ETFs that incorporate crypto assets are expected to be approved in a way that aligns with the responses of the financial authorities and tax authorities,” the representative said. “Therefore, the filing will be done after these legal revisions have been made.”
In addition to clarifying the filing status, SBI confirmed which part of the organization would eventually submit any application. According to the company, its subsidiary, SBI Global Asset Management, will be the entity responsible for launching any crypto-related ETFs once the green light is given.
SBI Wants to Target Retail Investors First
As for the target audience, SBI indicated that its initial focus would be on retail investors rather than institutions. The company emphasized its broader goal of expanding access to alternative investments, stating that it “advocates for and promotes the democratization” of such financial products.
At this stage, SBI reiterated that all available information about its ETF intentions is limited to what appears in its official earnings presentation. Until regulators move forward with crypto asset classification, the company’s ETF plans will remain in development rather than execution.
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.
