SBI Holdings has submitted two cryptocurrency ETF applications in Japan, one of which focuses on XRP and Bitcoin

According to Beincrypto, SBI Holdings disclosed in its second quarter earnings announcement that it has submitted applications for two cryptocurrency ETFs to the Japan Financial Services Agency. One of the funds is a cryptocurrency ETF that will provide direct exposure to XRP and Bitcoin. The second fund is a digital gold crypto ETF, which adopts a hybrid approach that combines gold backed securities with digital currencies. More than 50% of the fund will be allocated to the gold ETF. If the Japanese Financial Services Agency approves these ETFs, it will bring significant changes to the XRP ecosystem and the entire industry. This will officially grant regulatory recognition to XRP as an investment asset. Market analysts believe that SBI's measures may prompt other financial institutions to launch similar products.