Japanese Finance Minister Satsuki Katayama announced at the Open QUICK 2026 seminar organized by financial information service QUICK on July 10 that the government is progressing as planned in the process of legalizing crypto asset exchange-traded funds in the country. The statement came after the attention received by similar products abroad.
The legal framework in crypto assets is changing
Japan’s House of Representatives recently passed a regulatory amendment that moves oversight of spot crypto assets from the Payment Services Act to the Financial Instruments and Exchange Act. This step paved the way for crypto assets to be classified as fully regulated financial products. Thus, these assets are expected to be handled in a similar legal framework as stocks and bonds.
Japanese Finance Minister Satsuki Katayama announced that the government is proceeding as planned in the process of legalizing crypto asset ETFs.
The regulatory change strengthened the case for crypto asset ETFs to be traded on the exchange. According to the current schedule, it is likely that these products will start trading in the Japanese market within the next year.
SBI is working on two different products
In May, SBI Holdings announced the launch of a new crypto asset ETF product. The company’s plans include a dual-asset ETF structure that will offer investors regulated access to both Bitcoin and XRP. SBI Holdings is one of Japan’s largest financial groups, operating in banking, brokerage and asset management.
In addition, the company also proposed a hybrid investment fund that combines gold and crypto assets. In this structure, 51% of the portfolio is planned to be allocated to gold-based ETFs and 49% to crypto asset ETFs such as Bitcoin ETFs. This model aims to attract the attention of more cautious institutional and individual investors.
| Product | Contents | Target group |
|---|---|---|
| Dual asset ETF | Bitcoin and XRP | Investors who want regulated crypto access |
| hybrid mutual fund | 51% gold-based ETF, 49% crypto asset ETF | More cautious institutional and individual investors |
Competition and the goal of greatness come to the fore
SBI aims to reach approximately 5 trillion yen, or approximately $32 billion, in assets under management within three years of the launch of these products. This target marks a very ambitious scale for crypto-themed investment products in the Japanese financial sector.
The company also aims to gain an early advantage in the market by acting before major Japanese financial groups such as Nomura and Rakuten Securities. It is estimated that competition in the crypto ETF space may gain momentum as legal clarity increases.
Ripple connection attracts attention
SBI’s inclusion of XRP in its ETF plan also aligns with the company’s long-standing institutional relationship with Ripple. As a financial technology company known for its XRP-focused payment solutions, Ripple has long stood out in the Japanese market with close business partnerships.
The structure prepared by SBI brings together Bitcoin and XRP in the same fund, while in a separate model, it combines gold and crypto asset ETFs in a single portfolio.
