– SBI Holdings denied media claims it filed crypto ETF applications, including a Bitcoin-XRP dual-asset fund, citing no formal submissions.
– The delay stems from Japan’s FSA proposing crypto asset recognition under financial laws, requiring regulatory clarity before ETF filings.
– SBI plans to launch crypto ETFs via its subsidiary SBI Global Asset Management, targeting individual investors to democratize alternative investments.
– Regulatory uncertainty remains a key barrier, with product timelines dependent on finalized legal and tax framework updates.