- SBI plans to launch two ETFs with XRP, Bitcoin, and gold for Japan’s regulated market.
- The ETFs aim to attract both crypto investors and cautious gold-focused buyers.
- If approved, they could boost XRP & Bitcoin adoption and bring more big investors into crypto.
SBI Holdings has filed two cryptocurrency-linked ETFs, combining XRP, Bitcoin, and gold in a strategic move targeting Japan’s institutional market. This marks a turning point for XRP’s regulatory standing and institutional recognition within the country. Announced in SBI’s Q2 2025 report, the filing outlines two ETF products.
The first will combine digital assets with gold-backed securities, while the second will provide direct exposure to XRP and Bitcoin. Both aim to expand regulated access to digital assets in Japan, where such ETFs have faced regulatory challenges. SBI intends to list both ETFs on the Tokyo Stock Exchange. If approved, the launch could catalyze broader market participation and elevate XRP’s profile in institutional portfolios.
Direct Crypto Exposure and Hybrid Investment Approach
The first product is the Gold and Digital Gold Crypto ETF, structured with over 51% of its assets in traditional gold ETFs, while the remaining portion is allocated to digital assets like Bitcoin ETFs. It is a hybrid model that combines the potential of digital currencies in terms of growth with the stability of gold.
Allowing people to access both digital and conventional assets in a single product, SBI marks a change toward the diversification of portfolios inclusively. Such a structure can attract a larger investor audience, including those who are not ready to focus solely on crypto markets.
SBI’s second product, Cryptocurrency ETFs, focuses solely on Bitcoin and XRP, offering investors a regulated method to access both assets. The product responds to growing institutional interest in cryptocurrency investments but within a legal structure aligned with Japan’s evolving financial regulations.
Ripple Partnership Deepens XRP’s Institutional Path
SBI has a long-term collaboration with Ripple that still affects the formulation of its products. The move to add XRP to the ETF filing was made due to the trust in the utility of the asset, especially for cross-border payments.
The ETF filing is viewed by many as a further step towards the legitimization of XRP in the regulated financial world. According to analysts, the continuous association of SBI with Ripple could boost the possibility of it being approved by regulators.
The listing of the XRP in these ETFs may also influence regulatory sentiment around the world. Japan’s open stance might inspire similar efforts in other jurisdictions where XRP-linked products remain unapproved, such as the United States.
Related: SBI Japan Lets Aplus Users Swap Points for XRP, BTC, and ETH
Will Japan’s Strategy Set a Global ETF Precedent?
SBI’s dual ETF filing arrives at a time when global markets are watching Japan’s evolving crypto policies. The initiative reflects the country’s shift from a historically cautious regulatory approach to a more innovative one. Recent political developments suggest forthcoming tax reform, which could further accommodate crypto-linked financial products. This environment may enable smoother ETF approvals and set a precedent for future institutional products in the region.
However, despite XRP already trading in Canada as an ETF, most of the major markets worldwide, including the U.S., have yet to approve such trading instruments. Industry analysts predict that the United States will approve it as early as September or October 2025.
If the ETFs receive approval, they could unlock new liquidity channels and attract institutional capital. This may drive demand for XRP and Bitcoin and influence pricing dynamics across both assets.
