SBI Targets Regulated Crypto Exposure With Proposed Bitcoin–XRP ETF in Japan

SBI Proposes Dual Crypto ETF Featuring Bitcoin and XRP in Japan

SBI Holdings has submitted a proposal for a new exchange-traded fund (ETF) that would offer simultaneous exposure to bitcoin (BTC) and XRP, marking a significant step in expanding regulated crypto investment options in Japan.

Disclosed in the company’s Q2 2025 earnings report, the proposed Crypto-Assets ETF aims to track the performance of both BTC and XRP within a single product, catering to investors seeking broad crypto market access through a unified vehicle.

In parallel, SBI also introduced plans for a second product: the Digital Gold Crypto ETF, which combines traditional gold exposure with digital assets. More than half of the fund’s allocation would go to gold ETFs, with the remainder diversified across gold-backed cryptocurrencies—an approach designed for investors seeking reduced volatility alongside crypto participation.

While the proposed funds are still awaiting regulatory clearance, approval would mark Japan’s first ETF to include XRP—an asset that remains sidelined in U.S. institutional products due to longstanding regulatory uncertainty.

These filings highlight SBI’s continued push to bridge traditional finance with digital assets and bring institutional-grade crypto offerings to Japan’s regulated markets.