SBI Holdings Files for Japan's First Spot XRP ETF, Bypassing Ethereum

May 19, 2026

SBI Holdings filed for Japan's first spot XRP ETF, bypassing Ethereum to list a combined Bitcoin and XRP exchange-traded fund on the Tokyo Stock Exchange. The fund targets $32 billion in assets under management within three years of launch, focusing on institutional investors as Japan's Financial Services Agency reviews crypto assets more seriously as financial instruments.

SBI XRP ETF filing

▪SBI Holdings skipped Ethereum when filing for Japan's first spot XRP ETF.
▪SBI Holdings filed for Japan's first spot Ripple XRP ETF.
▪SBI Group's combined Bitcoin and XRP ETF targets $32 billion in assets under management within three years of launch.
▪Japan's Financial Services Agency is reviewing crypto assets more seriously as financial instruments.
▪SBI Group is planning to list a combined Bitcoin and XRP exchange-traded fund on the Tokyo Stock Exchange.
▪SBI Holdings is targeting $32 billion in institutional assets with its spot XRP ETF.