• SBI Holdings (TSE:8473) has filed for what would be Japan’s first spot XRP exchange traded fund.
• The filing comes after regulatory reforms by Japan’s Financial Services Agency and Cabinet that permit cryptoasset ETF products.
• More than 100 cryptoassets have been reclassified as financial instruments, alongside a move to a flat tax regime for eligible products.

SBI Holdings, a financial services group with a strong presence across securities, banking, and digital assets, is moving early with a spot XRP ETF filing that focuses on Ripple’s token rather than Ethereum. The timing links directly to Japan’s new rules that treat many cryptoassets as financial instruments and that open the door to ETF structures. For investors tracking…