Japanese financial services conglomerate SBI Holdings announced that it has not filed for cryptocurrency exchange-traded funds (ETFs), contradicting recent media reports.
SBI Holdings Denial About Filing
Recent media reports claimed that SBI had submitted applications for two ETF products: a dual gold and crypto ETF and a dual Bitcoin and XRP ETF. An SBI representative clarified, "Contrary to some media reports, we have not filed any applications with the authority to form an ETF related to crypto assets."
Awaiting Regulatory Updates
On June 24, Japan's Financial Services Agency (FSA) proposed recognizing specific crypto assets as financial products under the Financial Instruments and Exchange Act. SBI representatives stated that ETF applications will follow: "In Japan, ETFs that incorporate crypto assets are expected to be approved in alignment with responses from financial and tax authorities."
Uncertain Timeline for Crypto ETFs
The representative also noted that due to current regulatory frameworks, no specific timeline for filing crypto ETF applications has been set. However, the application will be submitted by SBI Global Asset Management.
SBI Holdings continues to monitor regulatory developments in Japan and plans to focus on filing ETF applications once necessary legal revisions are made.
