SBI Holdings is advancing an ambitious plan to list exchange-traded funds (ETFs) for Bitcoin and XRP on the Tokyo Stock Exchange (TSE), with a goal to reach ¥5 trillion ($32 billion) in assets under management (AUM) within three years of launch. The initiative signals a major push by the Japanese financial giant to bring crypto-linked investment products into the country’s mainstream capital markets.
Regulatory approval remains pending, as Japan’s Financial Services Agency (FSA) reviews a new framework that would formally classify crypto assets as financial instruments. If adopted, this reclassification could allow digital assets to be distributed through regulated brokerage channels alongside traditional equities and bonds, significantly widening investor access.
SBI’s crypto ambitions extend beyond ETFs. The group is already leveraging Ripple technology through its SBI Remit cross-border payment service, collaborations with Visa on crypto-linked reward cards, and the deployment of an XRP Ledger token issuance platform via SBI Ripple Asia. These efforts aim to embed digital settlement and tokenization capabilities directly into Japan’s financial infrastructure, while brokerage subsidiaries like SBI Securities and Rakuten Securities are also moving toward offering crypto investment products to retail and institutional clients.
