SBI Holdings Applies to Launch XRP and Bitcoin ETF…"Institutional Inflows Expected to Accelerate"
Summary
- SBI Holdings announced that it has applied to the Japanese Financial Services Agency for spot ETFs for Bitcoin and XRP.
- The Bitcoin and XRP spot ETFs are said to provide direct investment services for those assets.
- It was stated that the approval of the XRP spot ETF by the Japanese Financial Services Agency could become a crucial catalyst for institutional investment adoption.
Japanese financial group SBI Holdings will launch spot Exchange Traded Funds (ETFs) based on Bitcoin (BTC) and XRP.
According to BeInCrypto on the 6th (local time), SBI Holdings recently revealed, during its second-quarter earnings announcement, that it had submitted an application to the Financial Services Agency (FSA) of Japan for the 'Crypto Asset ETF,' a spot ETF for Bitcoin and XRP. BeInCrypto reported, "This product provides direct investment services for Bitcoin and XRP."
The focus is on XRP. Globally, Canada is the only country where an XRP spot ETF has been approved. BeInCrypto stated, "If the Japanese FSA approves the ETF, it will mark a significant turning point for the XRP sector and ecosystem," adding, "It could serve as an important catalyst for the institutional adoption of XRP."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul![[Market] Bitcoin slips below $77,000…Ethereum also breaks below $2,300](https://media.bloomingbit.io/PROD/news/f368fdee-cfea-4682-a5a1-926caa66b807.webp?w=250)
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