[Digital Today reporter Yoonseo Lee (이윤서)] Japan's financial firm SBI Holdings is pushing to launch exchange-traded funds (ETFs) holding bitcoin (BTC) and XRP, aiming for a Tokyo Stock Exchange listing.

Blockchain outlet The Crypto Basic reported on May 18 that SBI recently presented a cryptocurrency ETF concept including bitcoin and XRP in materials for investors. The materials included the phrase "SBI Bitcoin/XRP ETF."

The concept is drawing attention as it aligns with changes to Japan's digital asset framework. XRP community figure Jaifu pointed out that SBI aims to secure about $32 billion in assets under management within the next 3 years and is preparing investment products linked to bitcoin and XRP.

SBI presented two product concepts. The first is a "gold and crypto assets" (digital gold) trust. It allocates at least 51 percent to a physical gold ETF and invests up to 49 percent in crypto ETFs, including spot bitcoin ETFs. The second is a dedicated crypto ETF that holds both bitcoin and XRP, designed on the premise of a Tokyo Stock Exchange listing.

The move is directly linked to Japan's regulatory overhaul. SBI wrote that Japan's Financial Services Agency (FSA) reviewed crypto's regulatory framework and considered revisions to classify cryptocurrencies as financial products. Japan then amended the Financial Instruments and Exchange Act last week to officially reclassify cryptocurrencies as financial products.

Under the revision, cryptocurrencies were brought under the same regulatory framework as stocks and securities. A ban on insider trading, annual disclosure obligations for crypto issuers and tougher penalties for unregistered exchanges were also introduced. These changes are cited as a basis that could speed approvals for crypto ETFs and investment trusts for institutional investors.

Japan's securities industry has also started preparing related products. The Nikkei newspaper reported that SBI Securities and Rakuten Securities are developing their own crypto investment trusts and ETFs linked to bitcoin and ethereum. Nomura Securities, Daiwa Securities and the SMBC Group are also preparing related investment products.

SBI's concept is also significant because it expands ETF discussions, which have centered on bitcoin, to XRP. In major markets such as the United States, spot bitcoin and ethereum ETFs became established first, but in Japan product designs bundling multiple cryptocurrencies are being reviewed alongside regulatory reforms.

XRP is also drawing market attention as a digital asset that SBI has long shown interest in. If a product holding both bitcoin and XRP is approved, it would create a regulated channel through which Japan's institutional investors could gain indirect exposure to XRP. Actual launch, however, depends on regulatory approval and the implementation schedule.

SBI's ETF concept shows Japan's crypto market expanding from exchange-centered trading toward traditional financial products. As the regulatory framework is refined and major securities firms develop related products, access to digital asset investment in Japan could change.

SBI IS BRINGING XRP TO THE TOKYO STOCK EXCHANGE SBI Group: planning a BITCOIN + XRP ETF listed on TSE and a $32 BILLION AUM target within 3 years of launch. Japan's FSA is already reviewing crypto as a FINANCIAL INSTRUMENT. $XRP $BTC pic.twitter.com/ardNDDKiMb