SBI Holdings clarified the situation surrounding recent rumors regarding the filing of cryptocurrency ETF applications, stating that the project is currently in the planning phase.
SBI Holdings Clarification
Recently, SBI Holdings denied media reports claiming it had filed applications for cryptocurrency ETFs. A company representative stated, "Contrary to some media reports, we have not filed any applications with the authority to form an ETF related to crypto assets. It is only at the planning stage."
Media Speculation on Crypto ETFs
Some outlets reported that SBI had lodged applications for two ETFs, one combining gold and cryptocurrencies and another featuring Bitcoin and XRP. However, the data in the company's recent financial report did not indicate that any filings had occurred.
Regulatory Framework for Crypto Assets in Japan
The Financial Services Agency (FSA) proposed recognizing certain crypto assets as financial products under the Financial Instruments and Exchange Act (FIEA), which could open doors for crypto ETFs. The SBI representative added, "In Japan, ETFs that incorporate crypto assets are expected to be approved in line with the responses of financial and tax authorities."
SBI Holdings confirmed that plans for crypto ETFs remain in discussion, stating that application filings will depend on future regulatory changes in Japan.
