SBI Holdings has filed applications for the first two ETFs in Japan, which may significantly impact the cryptocurrency markets.
Filing for ETFs
SBI Holdings, Japan's largest financial conglomerate, has made a move toward integrating cryptocurrencies into the mainstream by filing applications for two pioneering exchange-traded funds (ETFs) with the Financial Services Agency (FSA) of Japan. This initiative follows reports that Ripple Payments is now actively used by over 100 financial institutions across 55 countries.
Implications for Bitcoin and XRP Market
The proposed ETFs could have significant implications for the market prices of Bitcoin and XRP. If approved, the Crypto-Assets ETF would provide institutional and retail investors with a regulated vehicle to invest in these assets, potentially driving significant capital inflows. SBI is aligning its product strategies with Japan’s evolving regulatory landscape.
Expected XRP and Bitcoin Prices
Approval of the ETF may lead to a price surge for XRP, which is currently trading at around $3.00. Analysts suggest that depending on global regulatory developments, the price could rise to the range of $3.50–$15. Bitcoin, on the other hand, is currently trading at approximately $114,865.77.
SBI's initiatives may significantly change the investment landscape in cryptocurrencies in Japan, creating new opportunities for investors and contributing to the integration of digital assets into the mainstream financial system.
