Japanese financial giant SBI Holdings submits XRP Spot ETF application! Plans to launch encryption asset ETF and digital gold encryption ETF, XRP takes a key step towards institutional recognition.

Ripple's core partner SBI Holdings disclosed in its Q2 financial report that it has officially submitted applications for two innovative encryption ETFs: a pure crypto assets ETF (directly linked to XRP and Bitcoin) and a digital gold crypto ETF (a combination of gold ETF + crypto assets). This move is seen as a significant milestone for XRP's recognition and regulatory acceptance by institutions in Japan and Asia. If approved by the Financial Services Agency (FSA) of Japan, it will be the first domestically launched XRP spot ETF, unlocking new liquidity for the XRP ecosystem and attracting a broader range of institutional funds to get on board.

1. SBI's Dual Approach: Submitting Applications for Pure Crypto ETF and Gold Mixed ETF Japan's financial giant SBI Holdings (formerly SoftBank Investment) disclosed in its Q2 2025 financial report announcement that it has officially submitted application documents for two innovative Exchange-Traded Funds (ETFs). This plan is a core component of its Q2 financial strategy, with the news initially revealed by a well-known figure in the XRP community, Amelie, through social media.

• Flagship Product: Crypto Assets ETF (Crypto-Assets ETF): This ETF will provide direct exposure to XRP and Bitcoin. If approved, it will become Japan's first spot ETF to include XRP, significantly promoting the institutional adoption of XRP in Japan. Previously, regulatory hurdles have long restricted the launch of such products in Japan.
• Innovative Combination: Digital Gold Crypto ETF (Digital Gold Crypto ETF): This fund adopts a Hybrid Approach, combining Gold-Backed Securities with digital currencies. Over 50% of the fund's assets will be allocated to Gold ETFs, aiming to create a Balanced Investment Product that attracts both Crypto Assets enthusiasts and Risk-Averse Investors.

2. XRP Moves Towards Mainstream: Institutional Endorsements and Regulatory Breakthrough Signals SBI has chosen to include XRP in its flagship ETF product, demonstrating its deep confidence in the long-term value and utility of the token, especially in the field of real-time cross-border payments. As an important shareholder of Ripple, SBI continues to promote the application of XRP in Asia's Financial Corridors.

Although Canada already has XRP ETF trading, XRP spot ETFs have not yet been approved in most major markets, including the United States. However, the industry generally expects that the U.S. may approve such products between September and October 2025. If the Financial Services Agency (FSA) of Japan is the first to approve SBI's ETF proposal, it will have symbolic significance for the XRP ecosystem and the entire industry—signifying that XRP officially becomes a regulated investment asset, which will greatly boost investor confidence. Market analysts believe that SBI's move may encourage other financial institutions to follow suit and launch similar products.

3. Hybrid Strategy Innovation: Integrating the Growth Potential of Crypto with the Stability of Gold The innovation of the digital gold encryption ETF lies in its combination of the growth potential of Crypto Assets with the stability of gold, creating a novel risk-adjusted tool. This strategy not only caters to a broader range of investors but also solidifies SB's pioneering position at the intersection of traditional finance and blockchain innovation.

4. Evolution of the Japanese Regulatory Environment: Paving the Way for Innovation The ETF proposal from SBI coincides with the evolving regulatory posture of Japan towards digital assets. Historically conservative, Japanese regulators have recently shown an openness to innovation against the backdrop of election results suggesting significant changes in tax reform, creating favorable conditions for the launch of new financial products.

Conclusion: SBI Holdings, as a core partner of Ripple and a Japanese financial giant, has submitted applications for a crypto assets ETF containing XRP and a digital gold crypto ETF. This marks a key battle for XRP to gain recognition and regulatory breakthroughs from mainstream financial institutions. If approved by the Financial Services Agency (FSA) of Japan, it will become Asia's first XRP spot ETF, injecting strong institutional liquidity into the XRP ecosystem, and may lead global financial institutions to launch similar products. This move not only confirms SBI's foresight in blending traditional finance and crypto innovation but could also accelerate the maturity of regulatory frameworks for crypto assets in Japan and globally. Market focus shifts to the approval window in Q3-Q4 of 2025.