According to CoinDesk
SBI Holdings, a Japanese financial group, plans to launch two cryptocurrency-related exchange-traded funds (ETFs) in Japan, one of which may be allocated to both Bitcoin (BTC) and XRP.
SBI noted in its Q2 financial report that the Financial Services Agency (FSA) of Japan is considering legal amendments to treat crypto assets as financial products. The company plans to launch investment trusts and ETFs related to crypto assets following regulatory approval.
The first fund product that SBI plans to launch will be allocated to both gold and “digital gold,” with over 51% of the funds allocated to traditional gold ETFs, while the remainder will be invested in crypto asset ETFs, such as the Bitcoin ETF issued by Franklin Templeton.
Another fund product that SBI plans to launch is a “crypto asset ETF.” According to the information, the company may launch a dual-asset ETF that simultaneously tracks the market performance of Bitcoin and XRP, allowing investors to gain exposure to both major cryptocurrencies through a single ETF.
Financial report data indicates that SBI holds 9% of Ripple Labs, the issuer of XRP. If Ripple goes public or has an equivalent event in the future, it may bring substantial profits to SBI. The company stated that Ripple’s payment and RLUSD stablecoin businesses are rapidly expanding, and SBI is also participating in this growth.
