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Japan is making some bold moves in the crypto space. One of the country’s biggest financial firms, SBI, just filed to launch a new crypto fund on the Tokyo Stock Exchange. If the request gets approved, Japan could actually beat the United States to become the first to offer an official altcoin exchange-traded fund. That’s a big deal.
In simple terms, SBI wants to create two new crypto-related investment products. One of them is designed to mix gold and Bitcoin together. More than half of the money would go toward gold, and the rest would go into Bitcoin through a fund that’s already available in the US. The second product is the one that’s getting all the attention. It’s made to track both XRP and Bitcoin and may even add more cryptocurrencies in the future.
SBI has a long history with Ripple, the company behind XRP. They’ve been supporting Ripple for years and now hold a big stake in the company. In fact, SBI owns around nine percent of Ripple, making them the largest outside investor in the firm.
What’s even more interesting is the timing. Just days before SBI made this move, Japan’s top financial authority submitted a plan that would officially recognize crypto as a financial product. If this rule passes, crypto investments in Japan would get the same treatment as traditional stocks or bonds, which could make things easier for big investors and allow more regulated products to launch.
Meanwhile, the US is still going back and forth on whether to allow ETFs for other cryptocurrencies besides Bitcoin and Ethereum. So, if Japan moves faster, it could steal the spotlight and attract a lot of global attention and money.
This all ties into a bigger trend we’ve been seeing. Bitcoin and Ethereum ETFs in the US have become huge. Together, they manage over 160 billion dollars in assets. This massive interest from big investors has pushed prices up and helped crypto go more mainstream. It’s also made companies rethink how they handle their money.
One Japanese company called Metaplanet switched its focus completely to Bitcoin last year and saw its stock price explode. That’s making other businesses in Japan curious. They’re seeing Bitcoin not just as a risky bet anymore, but something that can actually strengthen their finances.
With that kind of momentum, it wouldn’t be surprising if more crypto-friendly rules start showing up in Japan. And if that happens, we might see XRP and other altcoins traded through ETFs in Japan before they ever make it to American markets. That would be a big win for Ripple and a major milestone for crypto adoption in Asia.