SBI Holdings has publicly denied recent media reports claiming the company had filed applications for cryptocurrency-related exchange-traded funds (ETFs), including a dual Bitcoin and XRP ETF. The Japanese financial services conglomerate clarified the situation following widespread speculation on social media and in press coverage referencing its latest earnings report. Several outlets suggested that SBI had submitted ETF applications for both a dual gold-crypto ETF and a Bitcoin-XRP ETF, citing vague language in the company’s financial disclosures.
The denial casts doubt on earlier speculation, especially as Japan’s Financial Services Agency (FSA) recently proposed recognizing certain digital assets under the Financial Instruments and Exchange Act (FIEA) a move seen as a regulatory green light for potential crypto ETF development. SBI Holdings acknowledged that it intends to participate in the evolving regulatory landscape but has not yet taken formal action.
SBI clarifies intentions amid regulatory uncertainty
The representative explained that the application, when eventually submitted, would come from SBI Global Asset Management, a subsidiary of the group. They further clarified that no specific timeline has been determined for such filings due to the current regulatory uncertainty. Notably, the company does plan to target individual investors once any ETF products are launched. “We advocate for and promote the democratization of alternative investments,” the spokesperson added, reinforcing the firm’s long-standing mission to provide wider access to emerging asset classes.
Despite market anticipation and growing institutional interest in digital asset ETFs globally, Japan remains cautious, with regulatory bodies like the FSA moving slowly and methodically. As a result, although SBI’s interest in crypto investment vehicles is clear, its immediate intentions have been overstated. For now, all official information remains confined to what the company has publicly shared in its earnings presentation, with no confirmed ETF applications filed to date.