the turning point of SBI Group
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SBI Group has unveiled a plan to introduce the first dual-asset ETF in Japan, offering combined exposure to Bitcoin and XRP, with a possible debut on the Tokyo Stock Exchange. What is the new Bitcoin-XRP ETF proposed by SBI Group in Japan? The financial giant SBI Holdings aims for an absolute first: to present the first Japanese ETF focused simultaneously on Bitcoin and XRP. The announcement came in the group’s quarterly report, released on May 9, 2024, and anticipates the creation of innovative products that blend the world of cryptocurrencies with classic investment instruments. In particular, the second product described by SBI Group involves a joint ETF on the two main cryptos, with the intention of listing it directly on the Tokyo Stock Exchange, the most important stock market in Japan. This is a historic turning point for the local market, still heavily regulated on the offering of instruments linked to digital currencies. In detail, the plan of SBI Group includes two distinct products: A mixed gold-crypto ETF with a 51% allocation on gold ETF and 49% on crypto ETF (including those on Bitcoin). A fully crypto ETF on Bitcoin and XRP to focus on the two blockchain most relevant for volume and history. The first product, called “investment trust,” will be offered as a public fund in Japan, helping to expand accessibility to new asset classes among retail and institutional investors. The second, entirely focused on the exchange between Bitcoin and XRP, aims to become the reference title for those who want to diversify in the crypto landscape through regulated channels. SBI Holdings aims to start as soon as the green light from the authorities arrives. The quarterly report clearly states that the launch is subject to “regulatory approval”. In concrete terms, the company suggests that the dialogue with…
