SBI Holdings denies reports of applying for a Bitcoin-XRP dual ETF

ChainCatcher news, according to Cointelegraph, Japan's financial services giant SBI Holdings has denied media reports that it has submitted an application for a cryptocurrency ETF. Earlier reports indicated that the company planned to apply for a "dual gold + crypto ETF" and a "dual Bitcoin + XRP ETF," but SBI stated that it is currently only in the planning stage and has not formally submitted an application to the regulatory authorities.

SBI stated that the Financial Services Agency (FSA) of Japan proposed in June to include certain cryptocurrencies under the regulatory framework of the Financial Instruments and Exchange Act (FIEA), so the ETF application will wait until the relevant legal amendments are completed, with no timeline yet determined. Future applications will be handled by its subsidiary SBI Global Asset Management, with the initial target group being individual investors to promote the popularization of alternative investments.