The post Franklin Templeton backs XRP ETF play in Japan with ¥300 trillion AUM appeared on BitcoinEthereumNews.com.

SBI Holdings has submitted applications to Japan’s Financial Services Agency for the approval of two exchange-traded funds tracking Bitcoin and XRP. The filings represent the first dual-asset spot crypto ETF proposal in the country and arrive shortly after the regulator opened discussions around reclassifying digital assets as financial instruments under the Financial Instruments and Exchange Act. The products, detailed in SBI’s investor materials on August 1, include a crypto-asset-only ETF comprising Bitcoin and XRP, as well as a blended offering combining digital assets and gold. The former fund would allow for direct allocation to both tokens under a single wrapper, while the latter proposes exposure to Bitcoin and XRP, capped at 49%, with gold comprising the majority. SBI’s move follows its formal joint venture with Franklin Templeton in July. The JV aims to launch a series of digital asset investment vehicles and bring traditional asset management practices into the crypto space. Franklin Templeton, which manages more than ¥300 trillion globally and operates over 100 ETF products, will provide the infrastructure and compliance experience for product rollout. Per SBI’s statements, the crypto ETF suite will eventually cover Bitcoin, Ethereum, and XRP, contingent on approval and evolving regulations. The regulatory backdrop is undergoing revision. In late June, the FSA published a discussion paper proposing a unified 20% tax on crypto gains and recognizing crypto ETFs as regulated financial products. The proposed reforms address long-standing deterrents in Japan’s crypto market, such as the tax code’s treatment of crypto gains as miscellaneous income and the lack of formal recognition for crypto investment products. The policy shift is expected to enable listing crypto ETFs under existing securities laws, pending further legislative review and implementation timetables. SBI’s ETF initiative aligns with its broader strategic exposure to XRP. The firm is one of Ripple’s largest outside shareholders…

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Filed under: News - @ August 7, 2025 12:30 pm