SBI Holdings denies the report of applying for a Bitcoin-XRP double ETF.

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[SBI Holdings Denies Report of Applying for Bitcoin-XRP Dual ETF] Japan's financial service group SBI Holdings has denied media reports that the company has submitted an application for the crypto-related exchange-traded fund (ETF). Due to regulatory agencies still considering the classification of crypto assets in the country, an SBI representative stated that the ETF application will be made later. The representative added that, due to the current regulatory framework, they have not yet determined a specific timeline for submitting the crypto ETF application. However, the company confirmed that the application will come from SBI Holdings' subsidiary, SBI Global Asset Management. When asked whether these ETFs will be aimed at retail investors or institutional investors, the representative stated that the company plans to initially target individual investors. The representative stated that the company "advocates and promotes the democratization of alternative investments." SBI added that all disclosure information regarding the ETF plans is limited to what appears in its earnings reports.

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