SBI Holdings has dismissed reports claiming it has already submitted applications for cryptocurrency-related exchange-traded funds in Japan.
Several outlets this week suggested the company had filed for two ETF products — one pairing gold with cryptocurrencies and another combining Bitcoin and XRP — citing information from its earnings report.
However, an SBI spokesperson told Cointelegraph that no applications have been lodged with regulators. “Contrary to some media reports, we have not filed any applications with the authority to form an ETF related to crypto assets,” the representative said, adding that the idea remains at the planning stage.
Japan’s Financial Services Agency is currently reviewing a proposal to classify certain digital assets as financial products under the Financial Instruments and Exchange Act. SBI says its ETF filings will only move forward once these legal updates are in place, ensuring alignment with both financial and tax regulations.
The company has not set a timeline for submission but confirmed that any future application would be handled by its subsidiary, SBI Global Asset Management. The initial rollout is expected to target individual investors, with the firm positioning the products as a step toward “democratizing alternative investments.”
For now, SBI says all public details on the initiative are limited to what has been disclosed in its latest earnings presentation.
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Source: https://coindoo.com/sbi-holdings-denies-filing-for-bitcoin-and-xrp-etfs-in-japan/