SBI Files for Bitcoin–XRP ETF in Japan, Pushing Dual Crypto Exposure Into Regulated Markets

SBI Holdings has filed for a dual-asset crypto ETF offering direct exposure to both bitcoin (BTC) and XRP (XRP), in a rare instance where XRP is formally bundled with BTC in an institutional-grade product.

Revealed in the firm’s Q2 2025 earnings report, the ‘Crypto-Assets ETF’ is structured to track the performance of both assets simultaneously, providing a single-entry point for investors seeking crypto exposure.

A second product, the Digital Gold Crypto ETF, adds further depth by allocating over 50% of its capital to gold ETFs, while combining the remainder across gold-backed cryptocurrencies.

That hybrid construction is aimed at risk-sensitive investors looking to blend crypto upside with commodity stability.

No formal approval has been granted yet, but, if cleared, these would become Japan’s first ETFs to include XRP — a top-three token still absent from major institutional products in the U.S. due to regulatory overhang in the past.