Rumors of Japan's XRP ETF have resurfaced! SBI Holdings' financial report reveals regulatory progress. What is the outlook for Ripple ETF's launch in Japan?

Japan's financial giant SBI Holdings' latest quarterly report has sparked heated discussions in the market, particularly regarding its statements on the progress of encryption asset regulation and the theoretical ETF plan, igniting rumors on social media about "Japan's XRP ETF is about to be launched." Although SBI has clearly stated that actions will wait for the improvement of regulations, and the rumors may contain exaggeration, its deep cooperation background with Ripple and the positive shift in Japan's regulatory attitude still provide imagination space for the XRP ETF to log in to the Japanese market. This article will analyze the origin of the rumors, details of SBI's plans, and the regulatory hurdles it faces in implementation.

Origin of the Rumor: SBI Financial Report Suggests Regulatory Breakthrough, Igniting XRP ETF Expectations Rumors about Japan's XRP ETF are sweeping through the cryptocurrency community on social media, originating from a new report released by Japanese financial giant SBI Holdings. In its Q2 2025 financial performance report, the company cited potential regulatory advancements in Japan regarding encryption and outlined a theoretical plan to launch a new type of encryption ETF. This news was immediately interpreted as a signal that Japan may soon follow Brazil and Canada in launching an XRP ETF, sparking widespread speculation and discussion in the market. However, SBI clearly stated that no formal action will be taken until the legal environment improves.

SBI and XRP have a deep connection: Leading candidate in the race for Japan's ETF Although the XRP ETF has not yet entered the formal application stage in Japan, the credibility of SBI Holdings becoming a potential leader is very high, stemming from its long-term and in-depth partnership with Ripple and XRP. SBI is one of the largest users of XRP on Ripple's global payment network, and its business even allows customers to directly exchange XRP using credit card points. This verifiable history of cooperation makes SBI the most competitive candidate in the possible future XRP ETF race in Japan.

Rumor Analysis: Not a Pure XRP ETF, Implementation Still Requires Regulatory Green Light Some rumors on social media are exaggerated or misinterpreted, suggesting that SBI's XRP ETF application is in progress. The actual situation is that SBI is currently only in the theoretical planning stage, and the envisioned product is not a single-asset XRP ETF. According to their proposal, one plan focuses on providing indirect encryption asset exposure, while another includes a basket of tokens that contains XRP and several other major tokens (similar to the types already approved in the United States). SBI emphasizes that they will not take formal action until clearer guidance is received from regulatory authorities.

Regulatory Winds Shift: Japan Actively Embraces Web3, Providing Potential Soil The support point of this rumor lies in the fact that Japan's regulatory environment has indeed shown positive changes. The country's top financial regulatory agency has recently launched the "Web3 Policy Working Group," demonstrating a more open and embracing attitude towards encryption assets and the Web3 field. This shift in regulatory direction provides policy basis and confidence for SBI to conceive its theoretical encryption ETF products. It can be said that the potential improvement of Japan's regulatory framework is a prerequisite for the future implementation of innovative financial products such as XRP ETF.

Conclusion: The regulatory process determines the XRP ETF timeline in Japan, SB is poised for action Overall, the rumors about the Japanese XRP ETF triggered by SBI Holdings' financial report, although subject to market overinterpretation, are not baseless. SBI, with its deep ties to Ripple and long-standing favor for XRP, is undoubtedly the strongest contender for the future launch of related ETFs in Japan. However, the core issue still lies in regulation. The operation of Japan's Web3 policy working group marks a positive shift in regulatory attitude, but the clarification of specific rules will take time. Like XRP holders in most jurisdictions worldwide, the Japanese market must also patiently wait for the final approval from regulatory authorities. SBI's plans seem more like a strategic reserve for the moment when the regulatory gates are opened. Whether the Ripple (XRP) ETF can break the ice in Japan ultimately depends on the evolution speed and inclusiveness of the country's cryptocurrency asset regulatory framework.