SBI Denies Filing Crypto ETF Applications Amid Regulatory Review in Japan

Generated by AI AgentCoin World
Friday, Aug 8, 2025 7:26 am ET1min read
BTC
--
XRP
--
Aime RobotAime Summary

- SBI Holdings denies submitting crypto ETF applications, contradicting media reports of gold-crypto and Bitcoin-XRP products.

- The firm states the idea is in early planning, pending Japan's regulatory review of digital asset classification.

- Future filings will ensure compliance with financial and tax laws, managed by its subsidiary targeting individual investors.

- SBI's denial highlights cautious institutional interest in Japan's crypto market amid ongoing regulatory developments.

Several media outlets this week suggested that SBI Holdings Inc., a major Japanese financial services firm, had filed applications for two new exchange-traded fund (ETF) products involving cryptocurrencies [1]. One product was reported to pair gold with crypto assets, while the other would combine

Bitcoin
and
XRP
, according to disclosures in its recent earnings report. However, SBI has clarified that no formal applications have been submitted to Japanese regulators at this time.

An SBI spokesperson confirmed to Cointelegraph that the firm has not filed any applications with regulatory authorities for ETFs involving cryptocurrencies [1]. “Contrary to some media reports, we have not filed any applications with the authority to form an ETF related to crypto assets,” the representative stated. The company emphasized that the idea remains in the early planning phase and is subject to ongoing regulatory developments.

Japan’s Financial Services Agency is currently reviewing a proposal to classify certain digital assets under the Financial Instruments and Exchange Act [1]. SBI stated that any future ETF filings will only proceed once these legal updates are finalized, ensuring full compliance with both financial and tax regulations.

The firm did not provide a timeline for submitting any applications but indicated that if it does move forward, the process will be managed by its subsidiary, SBI Global Asset Management. SBI also noted that its initial ETF rollout would target individual investors, framing the initiative as a step toward “democratizing alternative investments.”

For the time being, SBI has limited public disclosures to what was shared in its latest earnings presentation, reinforcing that no new information beyond that will be released until the project is further developed.

SBI’s denial comes amid growing speculation about the firm’s expansion into crypto-related financial products. The company has previously been active in the fintech and

digital asset
space, making this potential move a significant indicator of broader institutional interest in cryptocurrency investments in Japan.

Sources:

[1] SBI Holdings Denies Filing for Bitcoin and XRP ETFs in Japan (https://coinmarketcap.com/community/articles/6895dc2acb59d57bc2a1785f/)