Japanese financial institution SBI Holdings has announced plans to launch the country's first cryptocurrency ETF with two assets, combining Bitcoin and XRP.
In its latest earnings report, SBI revealed two crypto-linked investment products. The first is a hybrid trust that allocates 51% to gold ETFs and 49% to crypto ETFs such as Bitcoin.
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The second product, a Bitcoin-XRP ETF, is expected to be listed on the Tokyo Stock Exchange, pending regulatory approval.
If approved, these would be the first cryptocurrency ETFs to be publicly offered in Japan, which could open up new avenues in its strictly regulated financial market.