Japan’s First Bitcoin-XRP ETF: A Financial Circus You Won’t Want to Miss! 🎪💰

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Well, well, well! It seems our friends over at SBI Holdings, the financial titans of Japan, have decided to throw their hats into the cryptocurrency ring. They’ve announced plans to launch the very first dual-asset cryptocurrency exchange-traded fund (ETF) in the land of the rising sun, featuring none other than Bitcoin and XRP. Who knew finance could be so thrilling? 🎢

In a report that came out on a fine Thursday, SBI laid out their grand scheme for not one, but two crypto-based ETF products. The first of these delightful concoctions is a mix of gold and crypto asset ETFs, all bundled up in a trust like a Christmas present nobody asked for. The proposal suggests a 51% allocation to gold-based ETFs and a cheeky 49% to crypto-asset ETFs, including our beloved Bitcoin. It’s like a financial buffet where you can have your gold and eat your crypto too! 🍽️

Now, the second product is where the real fun begins. It’s a dazzling duo of Bitcoin (BTC) and XRP (XRP) that SBI plans to list on the Tokyo Stock Exchange, the biggest stock exchange in Japan. Talk about a heavyweight match! 🥊

SBI to launch products upon regulatory approval

But hold your horses! SBI has made it clear that these products will only see the light of day “upon regulatory approval.” It seems they’re still in a bit of a tango with the authorities, and who knows how that dance will end? If they get the green light, these funds would be the first crypto ETFs to grace Japan’s tightly regulated financial market. 🎉

In their earnings report, SBI also mentioned the Financial Services Agency (FSA) is working on reclassifying crypto assets in Japan. It’s like they’re preparing for a regulatory makeover, and we’re all here for the drama! 💄

Despite the buzz about an XRP-Bitcoin ETF being filed, it’s still as clear as mud whether these products have been proposed to the FSA or if they’re still in the planning phase, twiddling their thumbs. 🤔

CryptoMoon, in its infinite wisdom, reached out to the SBI Group and the FSA for more juicy details, but alas, no response was received by the time this tale was spun. 📞

Japan’s financial regulator proposed reclassifying crypto

On June 24, the FSA proposed recognizing certain crypto assets as financial products under the Financial Instruments and Exchange Act (FIEA). This could open the floodgates for ETFs and perhaps even lower crypto taxes in the land of sushi and samurai. 🍣

As it stands, Japan currently treats crypto as a means of payment under the Payment Services Act. If the FSA’s proposal gets the thumbs up, some tokens might just be elevated to the status of securities. It’s a wild world out there, folks! 🌍

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2025-08-06 16:23